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FBN’s Gerri Willis on the financial impact of government regulations on businesses.
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How many times have you heard somebody say that congress.
Should do something about this problem that problem -- -- you've said -- yourself.
Well let me tell you there is a cost to Washington getting involved in our lives and we are just beginning to get the bill for Obama's four years.
According to the American action forum the US has issued regulations with total cost of 488.
Billion dollars a lot of money.
A lot of tax Payer money.
And sending billion of this came this year alone.
And it's not just the cost it's the time complying with the mountain the federal regulations takes up an accumulated ten point 38 billion hours of paperwork.
According to the AA -- that's equivalent to 771999.
Full time employees just -- fill out the red tape.
That's more -- them work for the entire US Postal Service.
It would take the same amount of time to build 220.
Empire state buildings all -- -- more than 324.
Million cars.
And you could sit and watch gone with the wind.
-- nearly four hour movie nearly three billion times.
So what agencies are letting us up at these rules well so.
They come from the EPA a big culprit the agency's new rules on Mercury targeting our coal industry -- -- ten billion dollars in regulatory costs.
-- seeing the impact coal fired electricity plants across the country closing.
Because they can't deal with the increased costs obamacare has its share -- rules to.
Health and human services overseas regulations of sixteen point seven billion dollars as a result.
Is it any wonder the national federation of small business -- taxes and regulations.
As the biggest problems facing them.
And hey let's remember a lot of these rules don't require additional reporting for just one year.
This is annual year end year out burden for many firms large and small AAF figures the lifetime cost of new rules is.
Get ready for this a 160.
Billion dollars.
Even if you only figure major ranks not the penny any staff.
But these rules are putting a stranglehold on businesses large and small holding back our economy and keeping the jobless rate.
