Democrats will tell you that regulations don’t cost jobs.
Of course, most of these people have never run a business, so they speak from a position of ignorance.
The fact is, if costs go up, and revenue stays static, profit declines. When profits decline, jobs are not created.
That’s not partisan. That’s simple business.
So what impact do you think this has had on the economy:
In fact, as the chart below shows, the costs of “major” regulations — those estimated to cost at least $100 million in any one year (in 2001 dollars) — issued by the Obama administration in its first three years nearly tripled the cost of those issued by the Clinton administration in its first three years, nearly quintupled the cost of those issued by the George W. Bush administration in its first three years, and nearly doubled the cost of those issued by Bush and Clinton combined. Again, that’s according to the Obama White House’s own tallies.
Here’s a scary chart:
These regulations have undoubtedly done damage to the economy. I’d love to hear the logic behind thinking otherwise.