Despite the President’s touting of “Bidenomics” and recent jobs reports, only 33 percent of Americans approve of his handling of the economy.
Americans see that inflation and gas prices have hit historic highs under this administration; and a recent study found Biden’s… https://t.co/tgPZEQx977
— Rep. Barry Loudermilk (@RepLoudermilk) July 7, 2023
Fox News: Biden regulations have cost Americans almost $10,000 per household: study
The Biden administration’s burdensome regulations have cost Americans about $10,000 per household, according to a new report, which noted that figure could skyrocket if President Biden is re-elected in 2024 and serves another four years.
Casey Mulligan, a professor of economics at the University of Chicago, compares the regulatory records of President Biden and former Presidents Donald Trump and Barack Obama in a new study published by the Committee to Unleash Prosperity.
As of the end of last year, according to the study, the Biden administration imposed new regulatory costs on American households and businesses at a pace that is surpassing that of the Obama administration during a comparable time period. Specifically, Mulligan writes that the Biden administration has so far been adding regulatory costs at a rate of $617 billion per year of rulemaking, not counting regulatory costs created by statutes and other non-rule regulatory actions.
Mulligan calculates that the added costs of these Biden-era rules finalized in 2021 and 2022 — including both their current and expected future costs — amount to about $9,600 per household. These costs are spread over time rather than concentrated in the first year that the rules take effect — and could spike significantly if Biden is re-elected. READ MORE