Phoenix Center Cites Regulator Costs, Urges Budget Cuts to Spur Economy, Jobs
Cutting regulatory budgets responsibly would help boost economic and job growth, said a Phoenix Center report Wednesday. It said the annual "cost per regulator" to the U.S. economy is 138 jobs and $11 million in output. "Reducing the size of…
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the regulatory state is a promising means for cutting spending and growing the economy," said an accompanying release. A 10 percent reduction, or about $5.6 billion, in the regulatory budget -- "which implies a return to pre-Obama Administration levels" -- would produce an additional $1.2 trillion in GDP over five years, or $244 billion annually, and 3 million new private-sector jobs per year on average, it said.