On the recordFebruary 10, 2011
I asked him what this meant and he said, well, basically distribution of income. What? The administration is making a decision on regulation on the basis of distribution of income? I thought the market was supposed to decide that, not a government czar. In fiscal year 2010, Federal agencies promulgated 43 major rules that impose costs that are estimated to cost industry $28 billion, the highest annual level since 1981. Along with all these major rules come daunting levels of red tape, the cost of which cannot easily be counted. The Obama administration's regulatory agenda released this past fall identifies 4,225 rules under development.
