The Great TARP Cover-Up
Some folks want to pretend government intervention never happened.
“If austerity is the new black, the news has yet to reach the people who actually wield power in the capital. And if the Washington elite aren’t serious about cutting spending, they sure aren’t hell-bent on cutting red tape and regulations either. For self-evident reasons, George W. Bush and the Republicans soft-pedaled the fact that over the course of his presidency he hired 90,000 net new regulators; signed the Sarbanes-Oxley bill, which radically complicated corporate accounting practices; passed a record number of “economically significant” regulations, costing the economy $100 million or more per year; and, according to economist (and reason columnist) Veronique de Rugy of George Mason University’s Mercatus Center, spent more money issuing and enforcing federal regulations than any previous chief executive. Obama is continuing the trend, increasing employment at regulatory agencies by more than 13 percent and issuing 75 major rules in his first two years.”
Check out the whole piece, there’s a reason people are talking past one another and not to one another. People can’t even agree on the facts.
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