From the only paper worth reading in New York city, the New York Post
The highest inflation in 40 years isn’t driven just by record federal spending, a record government-driven labor shortage and record restrictions on US energy production. President Joe Biden’s record regulation spree is also pushing prices higher. Stopping the bureaucratic assault on the economy is essential to taming inflation and giving families relief.
The role of regulations in the inflation crisis is largely overlooked but shouldn’t be. When Washington wraps the economy in red tape, businesses must spend massive sums on compliance.
That cash doesn’t materialize from thin air. Every dollar that goes toward hiring lawyers, filling out paperwork and redesigning products and assembly lines gets passed to consumers through higher prices. Mercatus Center research finds that a 15% increase in federal regulation hikes the cost of consumer goods by a full percentage point.
It’s time to stop the madness and get government out of the way of the economy.
This “build back better” leaves us wondering, better for whom? It’s as Reagan told us.
