Obama's WSJ Editorial: Cutting Red Tape - Toward a 21st Century Regulatory System

If the FDA deems saccharin safe enough for coffee, then the EPA should not treat it as hazardous waste.

By BARACK OBAMA

For two centuries, America's free market has not only been the source of dazzling ideas and path-breaking products, it has also been the greatest force for prosperity the world has ever known. That vibrant entrepreneurialism is the key to our continued global leadership and the success of our people.

But throughout our history, one of the reasons the free market has worked is that we have sought the proper balance. We have preserved freedom of commerce while applying those rules and regulations necessary to protect the public against threats to our health and safety and to safeguard people and businesses from abuse.

From child labor laws to the Clean Air Act to our most recent strictures against hidden fees and penalties by credit card companies, we have, from time to time, embraced common sense rules of the road that strengthen our country without unduly interfering with the pursuit of progress and the growth of our economy.

Sometimes, those rules have gotten out of balance, placing unreasonable burdens on business—burdens that have stifled innovation and have had a chilling effect on growth and jobs. At other times, we have failed to meet our basic responsibility to protect the public interest, leading to disastrous consequences. Such was the case in the run-up to the financial crisis from which we are still recovering. There, a lack of proper oversight and transparency nearly led to the collapse of the financial markets and a full-scale Depression.

Over the past two years, the goal of my administration has been to strike the right balance. And today, I am signing an executive order that makes clear that this is the operating principle of our government.

This order requires that federal agencies ensure that regulations protect our safety, health and environment while promoting economic growth. And it orders a government-wide review of the rules already on the books to remove outdated regulations that stifle job creation and make our economy less competitive. It's a review that will help bring order to regulations that have become a patchwork of overlapping rules, the result of tinkering by administrations and legislators of both parties and the influence of special interests in Washington over decades.

Continue reading at the WSJ (free story)...

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We hear the sincerity on regulation, but what about this..?.. 

In August, Missouri voters voted 'NO' overwhelmingly on Obamacare.  And in December, Federal Judge Henry Hudson will rule on the constitutionality of the individual mandate, the cornerstone of Obama's plan.  As this graphic shows, the new law creates 68 grant programs, 47 bureaucratic entities, 29 demonstration or pilot programs, 6 regulatory systems, 6 compliance standards and 2 entitlements.  What could possibly go wrong with something so-well organized?

Full-size image inside.

• Click for full-size image...

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The complete story with Paul Ryan video and more detail is here...

• Obamacare Complicated? Check Out The Flow Chart

Comments

[DailyBail]

http://online.wsj.com/article/SB10001424052748703396604576088272112103698.html?mod=mktw

op-ed source...

[DailyBail]

Housing: U.S. economy’s Achilles’ heel

http://www.marketwatch.com/story/data-to-show-housing-as-economys-achilles-heel-2011-01-16

[DailyBail]

NEW YORK (MarketWatch) — Treasury prices stayed under pressure Tuesday, pushing yields up, after the National Association of Home Builders index showed the industry mired in pessimism.

http://www.marketwatch.com/story/treasurys-stay-down-after-nahb-index-2011-01-18

[DailyBail]

http://www.marketwatch.com/story/goldman-facebook-deal-for-foreign-clients-only-2011-01-17

NEW YORK (MarketWatch) — Goldman Sachs Group Inc. is opting to restrict its private placement of Facebook shares to investors outside the United States, according to reports published Monday.

[DailyBail]

Four reasons Buffett’s legacy will die by 2020

Commentary: ‘Last bubble,’ growth decline, moral laxity and China all a threat

http://www.marketwatch.com/story/four-reasons-buffetts-legacy-will-die-by-2020-2011-01-18

[DailyBail]

Chinese President Hu goes to Washington

Commentary: China’s state capitalism stokes trade tensions

http://www.marketwatch.com/story/president-hus-us-visit-in-spotlight-2011-01-16?link=kiosk

[John S]

The problem is not so much the regulations but the millions and millions of jobs that go overseas to avoid these regulations. There are a lot of common products, like the iPhone, that cannot be made in this country at any price due to EPA rules. Are EPA, OSHA, EEOC, FDA, FCC, etc., etc., important? If they are, then ban the importation of any product that is not manufactured in full accordance to these millions of rules. Or if they are not important, then shutter these government agencies and bring the jobs back to the U.S.

[john]

@John S, you are right about jobs being sent overseas. It is not going to stop either. I think you might enjoy this article as it has some statistics about precisely that.

http://www.opednews.com/articles/Will-banksters-corporadoe-by-Richard-Clark-110117-665.html