The number of major federal regulations issued in the first five years of the Obama administration was 153.2% higher than during the first five years of the Bush administration, according to data from the Heritage Foundation.
“In the first five years of President Obama’s Administration, 157 major federal regulations were issued. By comparison, only 62 major federal regulations were issued during the first five years of the George W. Bush Administration,” according to Heritage’s report, Red Tape Rising: Five Years of Regulatory Expansion.
A major federal regulation is defined as “any rule that the Administrator of the Office of Information and Regulatory Affairs of the Office of Management and Budget finds has resulted in or is likely to result in:
(A) an annual effect on the economy of $100,000,000 or more; (B) a major increase in costs or prices for consumers, individual industries, Federal, State, or local government agencies, or geographic regions; or (C) significant adverse effects on competition, employment, investment, productivity, innovation, or on the ability of the United States-based enterprises to compete with foreign-based enterprises in domestic and export markets,” reads the report.
Post Continues on www.teapartycrusaders.com ...