Congress and the White House have been focused for much of this year on the federal budget—rightfully so, given perennial deficits and unsustainable levels of U.S. debt. However, federal spending accounts for only a portion of the burden placed on Americans by the government. Regulations impose huge additional costs, hindering …
In an unusual left–right pairing, Senators Sherrod Brown (D–OH) and David Vitter (R–LA) last week introduced legislation to increase capital requirements on large banks. Calling it the “Terminating Bailouts for Taxpayer Fairness” or TBTF Act, the legislation is aimed at ending another TBTF: the doctrine of “too big to fail.” …
The U.S. Postal Service (USPS) caused an uproar yesterday when it announced that it would be ending Saturday delivery of letter mail this August, saving an estimated $2 billion per year. Opponents—including many Members of Congress—expressed outrage at the move, arguing that it would cause hardships for postal customers and …
President Obama, moving quickly to complete the lineup for his second-term regulatory team, nominated attorney Mary Jo White yesterday to chair the Securities and Exchange Commission (SEC). The selection is a critical one, as the agency is still struggling to complete the rulemakings required under the Dodd–Frank financial regulation act, …
It seems that no aspect of American life can escape government regulation. In the past year, regulators drafted rules that addressed everything from caloric intake to dishwasher efficiency. Most of these rules increase the cost of living, others hinder job creation, and many erode freedom. Not all regulations are unwarranted, …
Governments eager to use the recently concluded International Telecommunication Union (ITU) conference to bolster their efforts to censor and govern the Internet successfully inserted a provision to aid their cause. Although the Obama Administration is known to support most international treaties, this proved to be a bridge too far. As …
Regulatory policy made a cameo appearance in last night’s presidential debate when Governor Mitt Romney took aim at the Obama Administration’s penchant for making rules. “Regulations have quadrupled,” Romney said. “The rate of regulations quadrupled under this President.” The assertion led to a mini-controversy this morning over the Obama regulatory …
According to a recent Government Accountability Office (GAO) report, federal health standards limiting radiation from cell phones are outdated and don’t reflect the latest research in the field. The watchdog agency urged the Federal Communications Commission (FCC) to reassess its current rules. The Members of Congress who requested the study—Representatives …
It is becoming hard to keep the billions of dollars in missed payments and recorded losses by the U.S. Postal Service (USPS) straight. Today, tack another multibillion-dollar chunk of change onto the list: The USPS reported a third-quarter net loss of $5.2 billion, bringing year-to-date losses to $11.6 billion. But …
