Washington Secrets $1.8 trillion shock: Obama regs cost 20-times estimate September 20, 2012 | 8:51 am
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Current federal regulations plus those coming under Obamacare will cost American taxpayers and businesses $1.8 trillion annually, more than twenty times the $88 billion the administration estimates, according to a new roundup provided to Secrets from the libertarian Competitive Enterprise Institute.
And it could grow, warned the author of the report, Clyde Wayne Crews, a CEI vice president.
Complying with Health and Human Services Department requirements alone, he revealed, costs $184 billion a year, yet regulators are still drafting the rules for the 2,400-page Obamacare law that kicks into gear in 2014.
Crews has made a working project of his "Tip of the Costberg" report which he regularly updates. In it, he compares the cost of regulations estimated by federal agencies to a much broader list of estimates from multiple federal and independent sources. And even then, he said, it doesn't include hard-to-calculate costs associated with antitrust intervention, regulation of electricity networks, or the cost of constrained access to natural resources.
"While OMB officially reports amounts of only up to $88.6 billion in 2010 dollars," said Crews, "the non-tax cost of government intervention in the economy, without performing a sweeping survey, appears to total up to $1.806 trillion annually."
But, he added, "according to back of the envelope surveys and roundups, with gaps big enough to fit the beltway through, that up to $1.806 trillion annually and in many categories perhaps even considerably more, is a defensible assessment of the annual impact on the economy."
His estimate is close to the $1.7 trillion estimate from the Small Business Administration which the White House distanced itself from. For comparison, the total U.S. GDP is $15 trillion.
The wave of Obama regulations has become a huge sore point in the business world with groups as large as the U.S. Chamber of Commerce down to the International Franchise Association crying for fewer rules. The administration, however, argues that the rules and regulations pushed out under the president have made products and workplaces safer.
Below are some of the estimates from Crews' report:
- A Baseline for Aggregate Annual Economic Regulation Costs: $373 Billion.
- A Baseline for Aggregate Annual Social Regulation Costs: $406 Billion.
- Additional Executive Agency Major Rule Costs Presented by OMB (But Not Tallied): $22.3 Billion.
If Obamacare ends up costing too much he will enact a single payer system.
Don't say you weren't warned.
If it weren't for Republican intervention we'd have the option of a single payer system now along with ObamaCare in it's present form.
The modern conservative is engaged in one of man's oldest exercises in moral philosophy; that is, the search for a superior moral justification for selfishness. John Kenneth Galbraith
The Obamacare that finally passed was deliberately sabotaged by the Republicans.
Now that's funny... Blaming the republicans for sabotaging a bill passed by a democratically controlled congress and signed by a Democratic president. I guess Pelosi was right in saying "we need to pass the bill so you can see what's in it"..I didn't think she meant herself.
"Arguing with liberals is like playing chess with a pigeon; no matter how good I am at chess, the pigeon is just going to knock out the pieces, crap on the board, and strut around like it is victorious." - Author Unknown
Now that's funny... Blaming the republicans for sabotaging a bill passed by a democratically controlled congress and signed by a Democratic president. I guess Pelosi was right in saying "we need to pass the bill so you can see what's in it"..I didn't think she meant herself.
Of course a bill has to be passed in the house to find out what the final bill will look like. The house passes then sends it to the Senate, who will modify and change the legislation, and hand it back to the House...etc etc etc, until a final bill is approved and voted on.
The modern conservative is engaged in one of man's oldest exercises in moral philosophy; that is, the search for a superior moral justification for selfishness. John Kenneth Galbraith
As usual you didn't answer the question of how the Republicans stopped single payer Obamacare when the Democrats controlled both houses of Congress as you implied.
Of course a bill has to be passed in the house to find out what the final bill will look like. The house passes then sends it to the Senate, who will modify and change the legislation, and hand it back to the House...etc etc etc, until a final bill is approved and voted on.
Of course... But of course a final bill MUST be in place for FINAL vote and that bill should be available for all to inspect...didn't we hear something like that in Obama's campaign of 2008?
"Arguing with liberals is like playing chess with a pigeon; no matter how good I am at chess, the pigeon is just going to knock out the pieces, crap on the board, and strut around like it is victorious." - Author Unknown
Here’s a review of the 32 votes taken since January 2011. Note that the vote count, provided by the office of the House Majority Whip, includes votes on final passage of bills and the passage of certain amendments related to the health-care law:
1.) Jan. 19, 2011: The Repealing the Job-Killing Health Care Law Act: A measure to repeal the health law in its entirety. (Measure passed 245 to 184, according to The Washington Post Congressional Votes Database.)
2.) Feb. 19, 2011: The Full-Year Continuing Appropriations Act, 2011: The House passed the spending measure, which included amendments that would curtail the reach and funding of the health law. Votes 3 through 11 in the GOP vote tally were on amendments that stripped away specific funding for parts of the law. (See the vote count.)
12.) March 3, 2011: The Comprehensive 1099 Taxpayer Protection and Repayment of Exchange Subsidy Overpayments Act: This measure repealed Form 1099 reporting requirements that were added to help finance the health law. (See the vote count.)
13.) April 13, 2011: A vote to repeal the Prevention and Public Health Fund: The fund is administered by the secretary of health and human services for various public health services. Republicans argue the “slush fund” would be used to fund jungle gyms, bike paths, and some lobbying activities. (See the vote count.)
14.) April 14, 2011: The Department of Defense and Full-Year Continuing Appropriations Act of 2011: The measure repealed the free choice voucher program and reduced funding for the Consumer Operated and Oriented Plan. It also barred increasing Internal Revenue Service funding to hire additional agents to enforce the health law’s individual mandate. (See the vote count.)
15.) April 14, 2011: The House directed the Senate to hold votes on defunding all mandatory and discretionary spending established by the law. (See the vote count)
16.) April 15, 2011: Fiscal 2012 Federal Budget: This spending proposal repealed and defunded the health-care law. (See the vote count.)
17.) May 3, 2011: H.R 1213: This measure repealed mandatory funding provided to state governments to establish health benefits exchanges. (See the vote count.)
18.) May 4, 2011: H.R 1214: The measure repealed mandatory funding to build “school-based health centers.”(See vote count)
19.) May 24, 2011: H.R. 1216: The measure converted $230 million in mandatory spending for graduate medical education programs to discretionary spending. The conversion would have allowed teaching health centers to receive funding through the regular appropriations process and with congressional oversight. (See the vote count.)
20.) Aug. 1, 2011: The Budget Control Act of 2011: President Obama signed this bill, which curtailed some funding for the health law. (See the vote count.)
21.) Oct. 13, 2011: The Protect Life Act: This bill prevented barred money from the health law to be used to pay for abortion procedures or abortion coverage. (See the vote count)
22.) Nov. 16, 2011: The bill required that certain benefits be included in the calculation of modified adjusted gross income (MAGI) for purposes of determining eligibility for certain programs established by the law. (See the vote count.)
23.) Dec. 13, 2011: The Middle Class Tax Relief and Job Creation Act of 2011: This bill offset the cost of extending the payroll tax reduction, unemployment insurance, and the “doc fix” by cutting funding to the public prevention fund, among other provisions. (See the vote count)
24.) Dec. 16, 2011: The Consolidated Appropriations Act of 2012: This measure rescinded $400 million from the Consumer Operated and Oriented Plan and $10 million in funds for the Independent Patient Advisory Board (IPAB). It also cut IRS’s enforcement budget and tightened restrictions on using federal CDC grant money for lobbying purposes. (See the vote count)
25.) Feb. 1, 2012: The Fiscal Responsibility and Retirement Security Act of 2011: This bill repealed the Community Living Assistance Services and Supports (CLASS) Act, a long-term care program established by the law. (See the vote count)
26.) Feb. 17, 2012: The Conference Report to the Middle Class Tax Relief and Job Creation Act of 2012: The bill cut a total of $11.6 billion from the law. (See the vote count)
27.) March 22, 2012: The Protecting Access to Healthcare Act (PATH): The measure repealed the IPAB and reformed medical liability insurance, which Republicans argued would save money for the Medicare program.(See the vote count)
28.) March 29, 2012: The Fiscal 2013 Federal Budget: This spending proposal also repealed and defunded the health law. (See the vote count)
29.) April 27, 2012: The Interest Rate Reduction Act: This measure froze federally-subsidized student loan rates at 3.4 percent for another year by repealing the Prevention and Public Health Fund established by the law. (See the vote count)
30.) May 10, 2012: The Replacement Reconciliation Act of 2012: The bill replaced across-the-board cuts in defense and non-defense discretionary spending by, among other things, cutting funding for elements of the health law. (See the vote count)
31.) June 7, 2012: The Health Care Cost Reduction Act of 2012: This measure repealed the medical device tax, one of the law’s key funding mechanisms, and limitations on reimbursements for certain over-the-counter medications. (See the vote count)
32.) June 29, 2012: As part of a bill establishing federal transportation funding and freezing federally-subsidized student loan rates for another year, the House also voted to save $670 million by recalculating the amount of money Louisiana gets from Medicaid.
The modern conservative is engaged in one of man's oldest exercises in moral philosophy; that is, the search for a superior moral justification for selfishness. John Kenneth Galbraith
The modern conservative is engaged in one of man's oldest exercises in moral philosophy; that is, the search for a superior moral justification for selfishness. John Kenneth Galbraith
Here’s a review of the 32 votes taken since January 2011. Note that the vote count, provided by the office of the House Majority Whip, includes votes on final passage of bills and the passage of certain amendments related to the health-care law:
1.) Jan. 19, 2011: The Repealing the Job-Killing Health Care Law Act: A measure to repeal the health law in its entirety. (Measure passed 245 to 184, according to The Washington Post Congressional Votes Database.)
2.) Feb. 19, 2011: The Full-Year Continuing Appropriations Act, 2011: The House passed the spending measure, which included amendments that would curtail the reach and funding of the health law. Votes 3 through 11 in the GOP vote tally were on amendments that stripped away specific funding for parts of the law. (See the vote count.)
12.) March 3, 2011: The Comprehensive 1099 Taxpayer Protection and Repayment of Exchange Subsidy Overpayments Act: This measure repealed Form 1099 reporting requirements that were added to help finance the health law. (See the vote count.)
13.) April 13, 2011: A vote to repeal the Prevention and Public Health Fund: The fund is administered by the secretary of health and human services for various public health services. Republicans argue the “slush fund” would be used to fund jungle gyms, bike paths, and some lobbying activities. (See the vote count.)
14.) April 14, 2011: The Department of Defense and Full-Year Continuing Appropriations Act of 2011: The measure repealed the free choice voucher program and reduced funding for the Consumer Operated and Oriented Plan. It also barred increasing Internal Revenue Service funding to hire additional agents to enforce the health law’s individual mandate. (See the vote count.)
15.) April 14, 2011: The House directed the Senate to hold votes on defunding all mandatory and discretionary spending established by the law. (See the vote count)
16.) April 15, 2011: Fiscal 2012 Federal Budget: This spending proposal repealed and defunded the health-care law. (See the vote count.)
17.) May 3, 2011: H.R 1213: This measure repealed mandatory funding provided to state governments to establish health benefits exchanges. (See the vote count.)
18.) May 4, 2011: H.R 1214: The measure repealed mandatory funding to build “school-based health centers.”(See vote count)
19.) May 24, 2011: H.R. 1216: The measure converted $230 million in mandatory spending for graduate medical education programs to discretionary spending. The conversion would have allowed teaching health centers to receive funding through the regular appropriations process and with congressional oversight. (See the vote count.)
20.) Aug. 1, 2011: The Budget Control Act of 2011: President Obama signed this bill, which curtailed some funding for the health law. (See the vote count.)
21.) Oct. 13, 2011: The Protect Life Act: This bill prevented barred money from the health law to be used to pay for abortion procedures or abortion coverage. (See the vote count)
22.) Nov. 16, 2011: The bill required that certain benefits be included in the calculation of modified adjusted gross income (MAGI) for purposes of determining eligibility for certain programs established by the law. (See the vote count.)
23.) Dec. 13, 2011: The Middle Class Tax Relief and Job Creation Act of 2011: This bill offset the cost of extending the payroll tax reduction, unemployment insurance, and the “doc fix” by cutting funding to the public prevention fund, among other provisions. (See the vote count)
24.) Dec. 16, 2011: The Consolidated Appropriations Act of 2012: This measure rescinded $400 million from the Consumer Operated and Oriented Plan and $10 million in funds for the Independent Patient Advisory Board (IPAB). It also cut IRS’s enforcement budget and tightened restrictions on using federal CDC grant money for lobbying purposes. (See the vote count)
25.) Feb. 1, 2012: The Fiscal Responsibility and Retirement Security Act of 2011: This bill repealed the Community Living Assistance Services and Supports (CLASS) Act, a long-term care program established by the law. (See the vote count)
26.) Feb. 17, 2012: The Conference Report to the Middle Class Tax Relief and Job Creation Act of 2012: The bill cut a total of $11.6 billion from the law. (See the vote count)
27.) March 22, 2012: The Protecting Access to Healthcare Act (PATH): The measure repealed the IPAB and reformed medical liability insurance, which Republicans argued would save money for the Medicare program.(See the vote count)
28.) March 29, 2012: The Fiscal 2013 Federal Budget: This spending proposal also repealed and defunded the health law. (See the vote count)
29.) April 27, 2012: The Interest Rate Reduction Act: This measure froze federally-subsidized student loan rates at 3.4 percent for another year by repealing the Prevention and Public Health Fund established by the law. (See the vote count)
30.) May 10, 2012: The Replacement Reconciliation Act of 2012: The bill replaced across-the-board cuts in defense and non-defense discretionary spending by, among other things, cutting funding for elements of the health law. (See the vote count)
31.) June 7, 2012: The Health Care Cost Reduction Act of 2012: This measure repealed the medical device tax, one of the law’s key funding mechanisms, and limitations on reimbursements for certain over-the-counter medications. (See the vote count)
32.) June 29, 2012: As part of a bill establishing federal transportation funding and freezing federally-subsidized student loan rates for another year, the House also voted to save $670 million by recalculating the amount of money Louisiana gets from Medicaid.
Geez, Box, If I remember my civics lessons, all Bills must be passed by BOTH houses of Congress before a president can sign them.. If I recall, the Senate has been in Democratic hands during Obama's entire first term... so none of those amendments could make to his desk without getting through the Senate, no?
As for the other house activity, if it doesn't get past the Senate, then no harm, and it's moot, except as a talking point for you.
"Arguing with liberals is like playing chess with a pigeon; no matter how good I am at chess, the pigeon is just going to knock out the pieces, crap on the board, and strut around like it is victorious." - Author Unknown
Geez, Box, If I remember my civics lessons, all Bills must be passed by BOTH houses of Congress before a president can sign them.. If I recall, the Senate has been in Democratic hands during Obama's entire first term... so none of those amendments could make to his desk without getting through the Senate, no?
As for the other house activity, if it doesn't get past the Senate, then no harm, and it's moot, except as a talking point for you.
With a jobs bill sitting before the US house, and hundreds of other legislation important to this economy... the house spent it's time passing useless bills to end Obamacare.
The modern conservative is engaged in one of man's oldest exercises in moral philosophy; that is, the search for a superior moral justification for selfishness. John Kenneth Galbraith
With a jobs bill sitting before the US house, and hundreds of other legislation important to this economy... the house spent it's time passing useless bills to end Obamacare.
I do agree that trying to end Obamacare in this political climate is a waste of time. The "jobs" bill is nothing more than ANOTHER stimulus that will have no lasting effect after the money is gone...except to add to our ever increasing debt, and I'm glad it's stalled.
"Arguing with liberals is like playing chess with a pigeon; no matter how good I am at chess, the pigeon is just going to knock out the pieces, crap on the board, and strut around like it is victorious." - Author Unknown
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