The Obama administration is steering the country toward a steep
“regulatory cliff” that could exacerbate the damage the so-called fiscal
cliff will cause, according to Sen. Rob Portman, R-Ohio.
“After three years of bureaucratic excess, the Obama administration has
been quietly postponing several multibillion-dollar regulations until
after the November election,” Portman writes in The Wall Street Journal.
“Those delayed rules, together with more than 130 unfinished mandates
under the 2010 Dodd-Frank financial law, could significantly increase
the regulatory drag on our economy in 2013.”
Editor's Note: The Truth About the Economy — Government Documents Lead to Eerie Conclusion
For example, Portman points to a regulation the Labor Department is
working on that would make the cost of retirement planning for
middle-class workers increase in order to “protect” them from free
investment help.
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