By – Gerry Hafer
You may recall that our AMAC Advantage magazine’s Summer 2016 publication included an article describing the state of regulatory overload in our country, citing the enormous $1.9 trillion compliance burden this overload places on our economy. In this article, we noted that the pace of new regulation in 2016 is continuing unabated, suggesting that what’s likely to happen in the waning months of the year will add substantially to this crucial problem.
Well, sadly, our projections have proven accurate. The Federal Register, the government’s daily depository of rules and regulations, yesterday crossed the threshold to a new all-time record page count—81,640 pages of rules, regulations, and compliance requirements, all with the force of law behind them.
Take a look at this analysis of recent Federal Register growth by Competitive Enterprise Institute’s vice president for policy and director of technology studies Clyde Wayne Crews here. It presents a year-by-year and administration-by-administration tracking of the Federal Register’s expansion in recent years. Keep in mind that these regulations, and the compliance burden they place on the economy and on all businesses, especially small business, are put into place largely by unelected agency officials.
Keep in mind, also, that we still have more than a month to go in 2016! Given the trend, the previous record is likely to be eclipsed by well more than 10% before the administration changes hands.