Thomas J. Donohue (U.S. Chamber of Commerce): Commentary: Regulations devastate economic growth

[unhappycamper]

Commentary: Regulations devastate economic growth
By Thomas J. Donohue | U.S. Chamber of Commerce
Posted on Thursday, October 14, 2010

WASHINGTON — Today, a regulatory hurricane threatens our economy and its ability to create the 20 million American jobs that we need by the end of this decade. It's been building strength for some time. Over the last several decades, more than 100,000 regulations have been issued, many of which impose heavy burdens on our job creators.

In the last two years, conditions have grown even worse. We've seen a dramatic acceleration of major regulations and mandates, from the health care and financial reform laws to some of the most activist agendas ever undertaken by federal agencies.

Businesses are hunkering down in response, hoping to wait out the storm. The $1.8 trillion they hold in cash reserves will likely remain on the sidelines until the economy becomes more certain. Without certainty, businesses find it difficult to make the plans and investments needed to grow and create jobs.

The business community, of course, has long recognized the need for sensible regulations to ensure workplace safety, guarantee worker rights and protect public health.

But government has gone too far. America is sinking under the crushing weight of the ever-expanding regulatory state. This burden threatens to disrupt our recovery, hamper long-term growth, undermine our global competitiveness, and suffocate the entrepreneurial spirit so vital to America's success.



unhappycamper comment: Blow it out your ass, Tommy-boy.

[zbdent]

1. on the plus side ...

free oil for seaside homes ... you skim it off the top ...

[pampango]

2. Dula, check out Germany and Sweden if you want to see that regulation and strong economies

go together rather than being mutually exclusive. Not only are their economies stronger, but the benefits are shared more equitably within their societies.

[madokie]

4. "but the benefits are shared more equitably within their societies."

Thats the part that American big money can't have though

[SpiralHawk]

3. Whiney tax-dodging Republicon crony profiteers before morning coffee

is pretty damn unappealing...

[old mark]

5. Nothing to do with the unfunded wars the Bush regime sold us, I guess..

those must have been paid off with tax cuts.

They ALL lie, some are more outrageous at it than others.

mark

[TheDebbieDee]

6. Government regulation creates jobs............

Not only government regulating jobs, but also jobs within the industry being regulated. These businesses have to hire people to keep their paperwork straight to prove that the business is in compliance with the regulations.

When the government and its agencies rescind regulation, businesses save money by getting rid of all the personnel in the departments that function to document compliance with regulation.

So, when industries complain that there's too much government regulation, what they're really saying is "We'd like to downsize......and get rid of some people."

[KharmaTrain]

7. Time To Regulate Fat Tommy...

Norman Goldman had a great suggestion...too late this year from the Chamber of Horrors and their wild spending, but the objective immediately following the election is to keep digging on who gave money, foreign and domestic, then publicize the companies. Some targeted protests and continued light on the Chamber could start making some of his big check writers a little hesitant to keep sending the money and then both investors and the consuming public finding out. That's the kind of PR they kinda like to shy away from. Bottom line...we're just chipping at the iceberg of this syndicate...the digging and exposure needs to continue for the sake of what's left of this country.