President Obama is putting the finishing touches on destroying as many businesses as he can via regulation. In seven years, Obama has leapfrogged both Bush and Clinton in the number of regulations issues.
The score currently stands 392 Obama, 358 Bush, and 361 Clinton.
Another 47 regulations are on top of the Obama pile. How many additional regulations Obama can come up with in the next nine months remains to be seen.
The Wall Street Journal reports Obama Readies Flurry of Regulations in an election season that has already been tough on corporate interests.
The Obama administration is racing to make final a flurry of regulations affecting broad swaths of the economy, further riling U.S. businesses in an election season that has already been tough on corporate interests.
Planned moves—across labor, health, finance and the environment—range from overtime pay for white-collar workers to more obscure matters such as requiring food makers to disclose added sugar on cartons of flavored milk.
The expected burst of regulation follows an intense few weeks in which the administration has targeted corporate tax inversions, imposed new rules on brokers and advanced restrictions on company relations with union organizers.
In his first seven years, Mr. Obama issued 392 regulations deemed “major,” meaning each carries an expected economic effect exceeding $100 million annually. Forty-seven more sat on the drawing board for this year. The tally issued already tops the totals during the eight-year tenures of George W. Bush, at 358, and Bill Clinton, at 361, according to an analysis by George Washington University’s Regulatory Studies Center.
If Republicans win the White House and maintain control of Congress, any rule issued by Mr. Obama within 60 legislative days of the end of his term could be overturned. That is because a Democratic president wouldn’t be there to veto a congressional vote to block the regulation.
To issue regulations and still leave 60 legislative days before Mr. Obama’s term ends, he has to issue them by mid-May.
Question of the Day
Does the term “lame duck” realistically apply anymore given the potential damage a president can do by mere decree?
Mike “Mish” Shedlock
Well ain’t this just grand
From: MishTalk To: rlbrown652012@yahoo.com Sent: Friday, April 8, 2016 9:30 AM Subject: [New post] In Waning Months, Obama Readies Dozens More Regulations; Totals to Date 392 Obama, 358 Bush #yiv4499448927 a:hover {color:red;}#yiv4499448927 a {text-decoration:none;color:#0088cc;}#yiv4499448927 a.yiv4499448927primaryactionlink:link, #yiv4499448927 a.yiv4499448927primaryactionlink:visited {background-color:#2585B2;color:#fff;}#yiv4499448927 a.yiv4499448927primaryactionlink:hover, #yiv4499448927 a.yiv4499448927primaryactionlink:active {background-color:#11729E;color:#fff;}#yiv4499448927 WordPress.com | mishgea posted: “President Obama is putting the finishing touches on destroying as many businesses as he can via regulation. In seven years, Obama has leapfrogged both Bush and Clinton in the number of regulations issues. The score currently stands 392 Obama, 358 Bush” | |
Any major regulation should be required to be passed into law by congress and the president. Some of these new regulations are based on “laws”, or in some cases a single sentence in a law passed 30 or 40 years ago.
One memo from Trump can make eight years of Obama regulations null and void.
President Trump’s first Executive Order should be: “All Executive Orders issued by Obama are hereby null & void”.
Or better yet: All executive orders, period, are null and void. Both retro and pro active.
I’d personally prefer the the more general “All orders, executive or not, are null and void”, but that may be expecting a bit much from someone hailing from Progressive Bloombergistan.
In the last year of the USSR they implemented thousands of new regulations and laws (if my memory serves me at all, around 5500+) and NONE, I repeat NONE, of these had anything even remotely to do with the real problems of the Soviet.
The real issues like the food shortages, people not being able to live on their salaries, housing etc. were all ignored and the Great Soviet Leaders – notice the capital letters – were dealing with issues like the correct form of toilet seat for all citizens and the screws and nails. It didn’t matter that most Soviet citizens never had seen any of these wonders but in case they would, they had to be stamped, signed and approved by the Politburo.
Somehow, I’ve had that same feeling about Europe and USA that we are regulating things that would not necessarily need to be regulated. Like toilet seats, a bad model will attract no customers and the guarantee stipulates that iit has to be replaced with a functioning model.
And what does all this bureaucracy cost? An arm and a leg, I suppose.
Yes, some may be problems…but requiring milk to be labeled so if it has added sugar? I’d certainly want to know that.,
Added sugar?
Mind blowing levels of diabetes bankrupting the medical system?
A nation of obsese lard-asses?
No, definitely wouldn’t want to regulate that!
Duh.
Americans are such dupes.
Fat dupes!
http://www.theguardian.com/society/2016/apr/07/the-sugar-conspiracy-robert-lustig-john-yudkin
It’s unbelievable how much damage can be wrought in the last few months by a determined, albeit useless, president. Why create this red taped quagmire of last minute rules? Most of the time he was in office he spent it in Hawaii and/or golfing, so why now? Honestly, it won’t change anyone’s opinion of him now. He should have been working when it mattered. Like so many other procrastinators, he must think we’ll only remember how he scrambled at the last minute to do good work, and forget about how he squandered all that time.
Yeah right. My KIDS act this way, and they get reminded that preplanning/preparing and following through will make life a whole lot easier.
Regulations are an economic transfer from shareholder to worker. Companies have to higher more workers to meet regulatory requirements, so profit is less than it would otherwise be. Good if you are the worker, bad if you are the shareholder. Hopefully there is some net benefit to the commons.
“There’s no way to rule innocent men. The only power any government has is the power to crack down on criminals. Well, when there aren’t enough criminals, one makes them. One declares so many things to be a crime that it becomes impossible for men to live without breaking laws.” Ayn Rand
Treasury Department just destroyed M&A tax-inversions. Killed the Pfizer/Allergan deal.
The thing i have noticed is that the republicans give the key to the chicken coop, to the foxes. The republicans get booted out, followed by the democrats who put 53 regulated padlocks on the coop. One extreme to the other.
hi… not sure if this is peculiar to me (my pc) or if you are having other similar reports, but when I click on stories a new window is opened but nothing loads and the only way to get the pc active again is to crash close (turn off!) and re-open specifying not open the Mish Talk window. Any thoughts welcome. Tantalised! L
no one else reported such a problem
That can happen if you are out of memory or nearly so
Mish
If the big banks and the rating agencies were better regulated, would there have been a housing bubble? If not, why not.
okay, I have a question: if the difference between Bush and Clinton and Obama is 1%, can we say that they are statistically any different? Can we say the Republicans are statisticall different from the democrats?
All you folks who hated bush and blamed him for everything should all be happy now, right? bush is gone. oh you mean the fire IS worse than the frying pan?
Mish. PLEASE, no more regulations! Stop strangling business!!
Judgment Day for Reckless Executives
As everyone in the industry has known for decades, operating a coal mine under these conditions is not just negligent, but reckless. Multiple witnesses testified at the trial that, in the words of one foreman, “We are told to run,
April 08, 2016 – By RENA STEINZOR – Opinion – Print Headline: “Judgment Day for Reckless Executives”