The Completely Insane Cost of Federal Regulations: $2 TRILLION

So this gives a whole new meaning to the Declaration of Independence’s, “…a multitude of New Offices, and sent hither swarms of Officers to harass our people, and eat out their substance.”

The New American has released a new video breaking down The Competitive Enterprise Institute’s annual “Ten Thousand Commandments” report which has concluded that federal regulations cost the economy $1.863 trillion in fiscal year 2013 alone!

As New American’s William F. Jasper noted, “The average family, with an average income of $65,596, will ‘pay’ $15,000 in regulatory costs, or about a quarter of the family’s income, buried in the prices of everything they consume.”

Those figures are so ridiculous, they might literally make your eyeballs pop out of your head. Think that’s an incorrect use of the word “literally?” Not according to the updated definition of literally which says that it can be used correctly if the use is for pure hyperbole to gain emphasis, regardless of how unnecessary that emphasis might be to make the point.

Think that’s upside down and backwards to use the word “literally” when something clearly isn’t literal? So is the 79,311 pages the federal regulations now take up in the Federal Register.

Here’s that video:

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