Last year, Congress enacted 72 new laws and federal agencies promulgated 3,659 new rules, imposing $1.86 trillion in annual regulatory compliance costs on American businesses and families. It’s hardly surprising that America’s economy shrank by 1% the first quarter of 2014, our labor participation rate is a miserable 63% and real unemployment stands at 14% (and much worse for blacks and Hispanics).
It’s no wonder a recent Gallup poll found that 56% of respondents said the economy, unemployment and dissatisfaction with government are the most serious problems facing our nation – whereas only 3% said it is environmental issues, with climate change only a small segment of that.
So naturally, the Environmental Protection Agency issued another round of draconian restrictions on coal-fired power plants, once again targeting carbon dioxide emissions. EPA rules now effectively prevent the construction of new plants and require the closure of hundreds of older facilities. By 2030 the regulations will cost 224,000 jobs, force US consumers to pay $289 billion more for electricity, and lower disposable incomes for American households by $586 billion, the US Chamber of Commerce calculates.
The House of Representatives holds hearings and investigations, and drafts corrective legislation that the Harry Reid Senate immediately squelches. When questions or challenges arise, the courts defer to “agency discretion,” even when agencies ignore or rewrite statutory provisions. Our three co-equal branches of government have become an “Executive Branch trumps all” system – epitomized by EPA.
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