President Trump told The New York Times earlier this month that he was proud of his "focus on deregulation." Lets hope that focus doesn't turn out to be fake news.
In rolling back regulation, Trump is focusing on a real problem, Ira Stoll writes. And pruning back regulation doesn't have to be a partisan issue.
The Mercatus Center at George Mason University captures the growth of federal red tape with a thought experiment explaining the difficulty of even reading, let alone complying with, the government imposed rules. "The US Code of Federal Regulations—the annually published set of books containing all federal regulations currently in effect—contained 35.4 million words in 1970. A person could read the entire code in just a few days short of a year, assuming he or she read 250 words per minute, 40 hours per week, 50 weeks per year," the Mercatus scholars wrote.
"Fast-forward to 2016, the last year for which we have data, and the task becomes more than three times as difficult," the Mercatus scholars say. "By 2016, there were 104.6 million words of federal regulation on the books, about 195 percent growth over 1970, with a corresponding increase in reading time of almost two years. "