Thomas J. Donohue (U.S. Chamber of Commerce): Commentary: Regulations devastate economic growth [View All]

[unhappycamper]

Commentary: Regulations devastate economic growth
By Thomas J. Donohue | U.S. Chamber of Commerce
Posted on Thursday, October 14, 2010

WASHINGTON — Today, a regulatory hurricane threatens our economy and its ability to create the 20 million American jobs that we need by the end of this decade. It's been building strength for some time. Over the last several decades, more than 100,000 regulations have been issued, many of which impose heavy burdens on our job creators.

In the last two years, conditions have grown even worse. We've seen a dramatic acceleration of major regulations and mandates, from the health care and financial reform laws to some of the most activist agendas ever undertaken by federal agencies.

Businesses are hunkering down in response, hoping to wait out the storm. The $1.8 trillion they hold in cash reserves will likely remain on the sidelines until the economy becomes more certain. Without certainty, businesses find it difficult to make the plans and investments needed to grow and create jobs.

The business community, of course, has long recognized the need for sensible regulations to ensure workplace safety, guarantee worker rights and protect public health.

But government has gone too far. America is sinking under the crushing weight of the ever-expanding regulatory state. This burden threatens to disrupt our recovery, hamper long-term growth, undermine our global competitiveness, and suffocate the entrepreneurial spirit so vital to America's success.



unhappycamper comment: Blow it out your ass, Tommy-boy.