But actually it wouldn’t be so bad if politicians merely treated the American economy like an ATM, even if they made fairly large withdraws. What’s really killing jobs is the red tape that causes a massive slowdown by jamming the gears of the advanced, multi-functional machine that is the free market.
The “Ten Thousand Commandments” of federal regulations, as my Competitive Enterprise Institute colleague Wayne Crews calls them in his annual study, costs the U.S. economy billions of dollars a year. And some regulations even put outright bans of the very activities politicians say they want businesses to engage in."
Wednesday, June 22, 2011
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