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James Gattuso, senior research fellow at the Heritage Foundation, on his new study that found regulations have risen under the Obama Administration.
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Elation but a new study says that he hasn't done that much about it and joining us right now is the author of a study -- -- do so.
He is a senior research fellow at The Heritage Foundation and James what you found here is something.
I gets real kind of -- -- our gut but we didn't know the magnitude of the numbers shares share with the audience just how much all of these regulations are costing us.
Sure what we -- we added up all the major regulations that have been adopted by the Obama administration and its first three years and found that the total term.
46 billion dollars in costs.
-- -- that lets large by any measure but then we went and -- added up the the cost of rules in the first three years that George W Bush Administration.
And so that they totaled about eight billion dollars so while President Obama came to -- -- less than President Bush in fact part of -- in in terms of cost heap imposed five and a half times as much regulation.
James is there's something's -- about were these guys -- where these two presidents were focused that that makes up the -- the discrepancy.
Or is it just that the president right now President Obama really believes in larger government.
And and given government are freer hand to -- to do their their their jobs I guess.
Well I I think it.
It really does to -- to a large extent reflects these two philosophies of the -- president now.
Now frankly I don't hold out George W.
Bush has as -- across the board.
Deregulate as much as as as people of sadly in his his totals in terms of regulatory costs are.
Are relatively high by historical standards as well but in any competition between the two.
President Obama far exceeds them and it's a combination of of all lot of little -- plus major initiatives in health care regulation financial regulation.
In that regulation.
Environmental regulation and he put together you get a big total.
In fact they're reading your report that I see where you talk about last year.
3611.
Rule making proceedings 79 of them were -- jury major big time expensive ones that cost a hundred million dollars or more.
That -- all Americans how does that come out of our pocket that comes -- through.
Do the budget through revenues or.
How to get this money to do implied to implement all of these things.
Well -- comes in a variety of ways of for instance the Durbin amendment and in banking put price controls on how much banks has -- could charge merchants for the use credit cards.
-- occurs to me.
Expect that it resulted in higher banking fees.
To consumers are paying citizens of those banks try to make up my -- lost out through through it to the new regulation.
There it is also our direct costs to consumers in terms of for his energy efficiency rules.
What air conditioners clothes washers on the even that you are talking -- which vision affect the price of good.
-- -- The thing that costs more to business the thing -- James on the other side and I know I've read EPA regulations and EPA proposals and of course we've heard from every industry from coal miners through to send make cement makers of farmers that these guys are being.
Just to two intrusive.
-- -- the EPA adds up their costs and they say listen we this actually we'll save us money because.
-- think at some on the lines and its life is worth 4500000.
Dollars I mean things like that is it is all that's sort of gimmicky.
And and should be ignored for the fact that these these are real numbers and and all Americans bear -- -- them.
What that there's a lot of fluff and those numbers remember the -- customers analyses are done by the agencies themselves have an interest in getting their their own -- regulation adopted.
But even even more so remember a lot of these regulations are are -- I'm not justified and health and safety grounds.
But simply justified based on upon a determination by the agency involved at the consumer doesn't know what they're doing.
If they can do -- make a bad deal for tumor than than and they can themselves.
-- for the viewers your polling after you for the viewers -- pull -- -- -- here on this stuff because you know this this the kind of thing that led to big Tea Party that's the type of thing that's still -- really high on what people concerned about this country going in the wrong direction.
Is there anything that can be done can congress -- then.
Who can stop this local -- boost spending.
Billion congress can and certainly should step in in effect a lot of the problems that that rescinded days because of congress backing off and not not a serious constitutional role to oversee.
Rules that are being applied to the American people.
-- there's -- bill in congress now that would require congress to to give its approval to any new major regulation before -- -- I think that what would at least help -- provide some accountability and restraint in this area.
Yeah I do what I love to see congress stuff up instead of giving away all of their power which I've watched and -- we've all watched him do.
In the last three years and of course the -- -- thanks a lot to ask him because could do so from The Heritage Foundation really appreciate it.
And still -- can then natural gas prices falling to their lowest level in a decade is this up.
