Regulation is Bad for America

by Sal on January 18, 2011

in Economy,Politics

The regulatory nightmare that has become our federal bureaucracy is bad for America.  It is bad for American businesses, the American people, and for our economic recovery prospects.  Powerline has two examples of how regulation is ruining American economic interests.

First, today Goldman Sachs is opening up private investment opportunities for Facebook.  However, they are not opening them up for American clients, only international clients.  This is because SEC regulations may cause issues with the investment process.  So instead, Americans get locked out.

Second, a new study finds that America’s medical technology industry is declining and losing ground to China, India and Brazil.  Why?  Why, due to FDA regulation, of course, which is hampering innovation and leaving America behind. The implementation of ObamaCare will only further this ominous trend.

Some government regulation is needed, but any regulation needs to be specific, streamlined, and crystal clear.  The FDA’s regulations, for example, should be able to fit in a pamphlet, not be found in a multi-volume tome.  It is clear that our regulatory culture is again (as in the 1970s) stifling the natural ingenuity of the American people, and much to our determent.  We need a new Reagan to tear down the regulatory scheme, and give innovating Americans every tool they need to exceed – without the government getting in the way.

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