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The Obama Council of Economic Advisers ended strong, and the Trump CEA may be picking up right where they left off. The council is out with a report and literature review on regulation:
Excessive regulation is a tax on the economy, costing the U.S. an average of 0.8 percent of GDP growth per year since 1980. This taxation by regulation has increased sharply in recent years, with approximately 500 new economically significant regulations created over the last eight years alone. Through a thorough review of the literature, the Council of Economic Advisers (CEA) finds that deregulation will stimulate U.S. GDP growth.
Certainly not every regulation is a bad one or is preventing sustainable and balanced economic growth. But some do, and the report correctly highlights occupational licensing as one barrier to labor market entry. Regulation that empowers incumbents over challengers is what I worry about. Bans on plastic water bottles in national parks, less so. And the following charts may suggest how much a burden regulation currently is on the US economy: