Tag Archives: Work

New study finds that Obama’s regulations cost $46 billion per year

From the Washington Examiner.

Excerpt:

Some 10,215 new federal regulations from the Obama administration are costing consumers, businesses and the economy overall $46 billion annually, more than five times the regulatory price tag of former President Bush in his first three years in office. Worse: just implementing those regulations had a one-time additional cost of $11 billion, according to a Heritage Foundation analysis provided to Washington Secrets.

Ironically, Bush instituted more regulations, 10,674, but they cost just $8.1 billion annually, said the Heritage report, titled “Red Tape Rising: Obama and Regulation at the Three Year Mark.” It will be released Tuesday.

The analysis backs up complaints from the U.S. Chamber of Commerce and other business groups that the president’s regulations are stalling the economy and employment growth. It also calls into question Obama’s promise to put the brakes on new regulations and his State of the Union bragging about issuing less red tape than Bush.

The fact is, said Heritage’s review, hundreds more costly regulations are coming, especially those targeting energy companies and Wall Street. They threaten “to further weaken an anemic economy and job creation,” said Heritage’s James Gattuso and Diane Katz.

[…]The $46 billion price tag calculated by Heritage is staggering, as are those hitting the economy the hardest. Just consider the regulations tagged as “major” for costing $100 million or more. Obama’s team issued 106 on private industry since taking office, compared to 28 by Bush. Last year alone, Obama’s administration issued 32 major regulations impacting everything from clothes dryers, to toy labels.

Heritage said that most expensive regulation of 2011 was from the Environmental Protection Agency, which added five major rules costing $4 billion. Among them, stricter limits on industrial and commercial boilers and incinerators, for a cost of $2.6 billion annually for compliance.

The regulations are also hitting workers through higher fees on items such as checking accounts.

The link to the Heritage Foundation study is here. The title of the report makes me think of “Red Storm Rising“, an excellent novel written by conservative author Tom Clancy.

Democrat Jim Cramer explains how Obamacare forces businesses to outsource

Transcript:

CNBC’s Jim Cramer:  “This is — look, I think the debate is a fabulous one to have, but it has completely taken away from the fact that we are really going to have a hard time hiring once this plan is put in place. I’ve had a couple of CEOs come on just in the last few weeks. When you talk about whether they want to hire, this is what they bring up. Chipotle, look, use this as maybe one of the great job creators in this country and they pay a lot for their people. This is a company that is very forward. When I ask them, what does ObamaCare do for you? They just say well, nothing we hope because the Supreme Court has got to say no to it. I mean, this is at the front and center of what could derail the economy.”

MSNBC’s Joe Scarbarough: “You’re talking about health care reform?”

CNBC’s Jim Cramer:  “I’m just saying, look, the issue the Catholic charities issue, front and center, I want church and state separation, but whatever I want doesn’t matter as much as what I’m telling you. Business leaders fear this more than anything, they don’t want to hire, this is part of the underground economy. It’s gonna develop because no one wants people on the books because of ObamaCare and people have to recognize that this is a front and center issue for every CEO I deal with and another reason why they don’t want to hire here, they want to hire there. They want to put the jobs in Asia, they want to put the jobs in Mexico because they don’t want to think about how much more it’s going to cost to hire a new person. Don’t lose that debate. That is a major debate for the economy.”

Is Jim Cramer some sort of radical tea party conservative?

He wrote this in 2008:

What will New York look like a year from now? The answer: bad and probably worse, and perhaps downright catastrophic. Three degrees of awful. The first step was passing the bank-bailout legislation. Now that it’s done—and if it didn’t get done we would have been looking at a guaranteed economic collapse—the critical issue will be presidential leadership. And while any president will be an improvement over the current one, there is a growing belief on Wall Street that Barack Obama has the capacity to lead us out of this wilderness while John McCain does not. I’ll go a step further: Obama is a recession. McCain is a depression.

Cramer back Barack Obama for President and is a well-known Democrat.

How faith, virtues and marriage are declining among blue collar Americans

Brad Wilcox writes about a new book entitled “Coming Apart” in the Wall Street Journal.

Excerpt:

So much for the idea that the white working class remains the guardian of core American values like religious faith, hard work and marriage. Today the denizens of upscale communities like McLean, Va., New Canaan, Conn., and Palo Alto, Calif., according to Charles Murray in “Coming Apart,” are now much more likely than their fellow citizens to embrace these core American values. In studying, as his subtitle has it, “the state of white America, 1960-2010,” Mr. Murray turns on its head the conservative belief that bicoastal elites are dissolute and ordinary Americans are virtuous.

Focusing on whites to avoid conflating race with class, Mr. Murray contends instead that a large swath of white America—poor and working-class whites, who make up approximately 30% of the white population—is turning away from the core values that have sustained the American experiment. At the same time, the top 20% of the white population has quietly been recovering its cultural moorings after a flirtation with the counterculture in the 1960s and 1970s. Thus, argues Mr. Murray in his elegiac book, the greatest source of inequality in America now is not economic; it is cultural.

He is particularly concerned with the ways in which working-class whites are losing touch with what he calls the four “founding virtues”—industriousness, honesty (including abiding by the law), marriage and religion, all of which have played a vital role in the life of the republic.

Consider what has happened with marriage. The destructive family revolution of the late 1960s and 1970s has gradually eased—at least in the nation’s most privileged precincts. In the past 20 years, divorce rates have come down, marital quality (self-reported happiness in marriage) has risen and nonmarital childbearing (out-of-wedlock births) is a rare occurrence among the white upper class. Marriage is not losing ground in America’s best neighborhoods.

But it’s a very different story in blue-collar America. Since the 1980s, divorce rates have risen, marital quality has fallen and nonmarital childbearing is skyrocketing among the white lower class. Less than 5% of white college-educated women have children outside of marriage, compared with approximately 40% of white women with just a high-school diploma. The bottom line is that a growing marriage divide now runs through the heart of white America.

This whole article is worth reading, because it talks about some of the other areas that are declining in middle class America. I have added the book to my wishlist.

It seems as though Theodore Dalrymple’s description of the British lower classes in his book “Life at the Bottom” has come to America. He argues in that book that the new moral relativism of the elites works well enough for them because they have money, but it is very harmful to the poor, if the poor adopt moral relativism. I always believed that America would be safe from moral relativism. Recently, I was trying to argue with some British Christians about how the secularization of Britain was leading to the decline of marriage and the nuclear family. I point out their 45% out-of-wedlock birth rate, and they pointed out our 40% out-of-wedlock birth rate. We are right behind them, and it really makes me sad. Children need a mother and a father to take care of them.

When arguing with liberals about the importance of marriage, I like to use two good articles from the Heritage Foundation. I argue that when marriage goes, many bad things happen, like child poverty and child abuse. You would think that the government would do something about the decline of marriage, but people on the secular left often don’t like marriage, because there are traditional roles for husbands and wives that clash with their feminism. They don’t like the working father and the mother staying at home – not even if that creates the most stable environment for the children