| Show Cost of federal regulation to exceed 1 00 billion a year Cost of government regulation in the United States-much of it unnecessary over-regulation in the minds of thoughtful economists will be more than billion in it is reported by Utah non-profit public service This is the equivalent of for every and child in the na- or for a family of and is seen as a significant factor in up- ward spiral of government ek- and national billion is more than the total Federal budget for any year prior to Citing a report by Murray L. Weiden- director of the Center for the Study of American Business recently published in Tax the tion noted a growing demand that regulatory programs be required to submit economic impact statements comparable to the environmental im- Pact statements that are required in connection with other types of merely to require a cost- benefit analysis to be made would not be it is is need- ed is congressional action to limit f over-all benefits to society clearly and substantially exceed their JJ check on over-regulation should begin with the budget-making lt Regulatory programs uld be given not only a budget o for expenditures of U dollars to limit the cost that regulation could impose on the According to the u a 95 of cost of government regulation is that of com- and is paid by the private teg- ment of the with only 5 chargeable to direct operation of government The cost of government regulation is rising far than other areas of government spen- ding and much more rapidly than the grois national Between 1974 and the cost of operating Federal regulatory agencies increased 55 while the Federal budget was by 49 and the gros national product bj along with the billion cZ of clearly shows the inflationary pressure generated by the regulatory the Foundation The cost of compliance hits virtually every sector of the the report as shown by the following ex- small businessmen-are hit by the require- ment of handling government which numbered more than last year and cost U.S. business more than billion to according to the government's own Federal Paperwork The government agency comments that of this paper- work is unnecessary A case has been cited where a small business firm deliberately fi led out the government forms it received with nonsense and returned them as The farce was no detected although repeated for several years that the filled- Ut by agency that sent them are paying from to more for a new home because of government regulations Federal and Across the this added cost comes to billion a Th American motorist Is paying an of more for a new car this vear because of Federal requirements cost across the while the added weight of Federally-required on automobiles is increasing gasoline con- by an aggregate of billion a It is recognized that some govern- ment regulation is in the public in- terest but countless examples have bew brought to light of unnecessary and even harmful practices that have been imposed by government is not a question of being for or against Federal but the need is to identify sensible changes that can be made in the regulatory program so as to achieve the desirable goals with minimum adverse impact other im- goals such as providing more jobs and checking the Foun- Approaches to sensible control of government in addition to the concept of economic Impact include the selection of the more desirable of goals when two or more are in and subjecting a regulatory agencies to the process i.e. reexamining them ly to see if they continue to serve a vital purpose or have outlived their usefulness U light of mon sense would appear to dictate that any part of a cost of a government program that can reasonably be eliminated should be stopped as soon as the Foun- |
