I'm Pete du Pont with the National Center for Policy Analysis. A new report from the small business administration suggests if congress wants to help the economy it should forget the stimulus package, and start whacking away at regulations.
Last year Americans spent $843 billion to comply with federal regulations — $8,200 per household. That's on top of the $19,600 share each household contributes, directly or indirectly, to federal revenues.
Regulatory compliance takes eight percent of gross domestic product – bad news for any company, but killers for small business, because big firms can spread out the cost over more employees. Firms with fewer than 20 employees face an annual regulatory burden of $6,975 per worker — 60 percent more than a firm employing more than 500 people.
Stimulate the economy? How about reducing the regulatory stranglehold.
Those are my ideas, and at the NCPA we know ideas can change the world. Visit the NCPA website at www.ncpathinktank.org to learn more. I'm Pete du Pont. Next time, the causes of terrorism.