The Manufacture’s Alliance has released a study concerning proposed regulation changes from the EPA. They want to change the ozone standard to 60 parts per billion. Currently, the allowable standard is 84 ppb. The costs will be astronomical to achieve this. They estimate it will cost the manufacturing industry in excess of one trillion dollars annually. That’s over 5% of GDP each year swallowed up by the cost of government regulation. The numbers are all in 2010 dollars and we know helicopter Ben Bernanke is dedicated to creating inflation, so those numbers will rise even more. By 2020, they estimate the EPA standard will result in the loss of 7.3 million jobs, or over 4% of the 2020 projected workforce. That means a guaranteed rise in the unemployment rate of over 4% simply due to a government regulation.
You can read the report for yourself here – http://www.mapi.net/Filepost/ER-707.pdf
Everyone has heard of tax freedom day. This year it was April 9th. Not so well-known is the cost of government day. This day is when we have satisfied not only our tax burdens at the federal, state and local levels, but also the costs of government regulation. This year that day was August 19th. Adding in the cost of government regulation more than doubles the amount of time we are slaving away our income to government.
If you’re a kool-aid drinker and believe we’ve turned the corner after the Obama-Biden recovery summer, you’ll surely discount this information as inaccurate. You probably also believe the science is settled on global warming. Perhaps you should read this story linked up at the Motor City Times – http://motorcitytimes.com/mct/2010/11/the-science-is-settled-un-official-admits-climate-policy-is-about-wealth-redistribution-and-not-global-warming/. Even the scientists admit the jig is up.
Here’s another site that can give you a personalized snapshot of your share of the cost of government – http://www.mygovcost.org/