The Lilliputians On Steroids Return
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Oh, the Lilliputians on steroids. They’re back. Yeah, I first wrote about the Lilliputians on steroids. I don’t know, was it 2015, 2016? Yeah, honestly, it almost sounds like I could make a Michael Bay movie out of a Jonathan Swift novel. We’ll make The Rock involved there and get all these action figures involved in. Yes, the Lilliputians.
The little guys tearing down, tying down the big guys. Again, we’ll get into Gulliver’s travels and whatnot this weekend on the radio show, but yeah. Yeah, they’re back. The guidance from the White House Office of Management and Budget, they basically, well, they tell federal agencies how you’re supposed to calculate regulatory costs. Now.
What does that mean? They’re supposed to take into consideration, you know, cost benefit analysis here when it comes to regulations. And it’s there to protect you and I, supposedly protect you and I, for any regulations that, you know, get out of control. You know, some Greta Thunberg nonsense that comes rolling down the pike. Again, this is basically established to be a check on agencies that want to extend their power.
in all sorts of willy-nilly ways. Well, the Biden administration is removing more of those guardrails. In April, Biden issued an executive order instructing OMB to modernize the regulatory process. What does he mean by modernize? He means anything goes. Let’s
Yes, let the patchouli oil-wearing furry leg girls with underarm hair, lots of tie-dye people, let them do whatever the hell they want in regulating Americans. Under Biden’s order, a significant regulatory action is redefined as one expected to have a $200 million annual economic cost.
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up from 100 million currently. And they start playing some gimmicks, all sorts of accounting gimmicks that reduces the impact on the US economy and society. OMB tips the benefit side of the cost benefit ledger by allowing consideration of the global effects of the regulation, which
How shall I put this? Bullshit! They’re just making things up as they go along. Piling on bullshit. Oh my God. You put up that road. Oh my God. How was that going to affect the penguins in Antarctica? Holy schnikes. We’re gonna have to do something about that. Yeah. A perceived benefit for the world.
can figure into the analysis of a new rule as much as the cost to, let’s say, the people of East Palestine, Ohio. Again, this is basically green light, all regulations. Anything goes. Pour it on, baby. And again, states are none too happy about this because states are gonna be subject to these rules.
attorney generals from 26 states are basically saying, hey, you know, we got this thing, it’s called the 10th Amendment of the Constitution, federalism, and you’re taking it and you’re wiping your ass with it, Joe, and you can’t do that. In a letter to the OMB, the AG’s right that the new rule will decrease the utility of cost benefit analysis while increasing the power and flexibility of federal regulators.
Almighty Washington! That’s what it’s become, people. It’s become everything our founders didn’t want. The letter says the revisions will also encroach on traditional areas of state concern by claiming that state governments are not effectively addressing the issues at hand. The administration is attempting to manipulate the regulatory process. No way, you gotta be kidding me. No, they would never, bureaucrats would never do that.
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No. So the presumed benefits of progressive regulations seem to trump costs. Anyway, again, all sorts of funny math going on here. Let’s take a look at what the Biden administration has unleashed on the American people. Casey Mulligan University Chicago economist looked at Joe Biden’s regulations through 2022.
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Overall cost is $5,019 per household. Now, is that inflationary? Damn straight it is. All these are costs that factor into everything that we buy. Are they not? And let me ask you a question. Is there anything that Jay Powell and the Federal Reserve could do about these costs? No.
No, according to the Competitive Enterprise Institute’s Clyde Wayne Cruz, the Biden administration has 297 economically significant regulations in the pipeline and his average has been 97 per year compared to 69 for Obama, 49 for George W. Bush and actually the Trump administration reduced regulatory costs by 2,636.
Thanks Joe, I appreciate it. We all love paying a shit ton more for everything. Great job buddy, keep it up. Watchdog on wallstreet.com.
