Cross-posted from the Economic Policy Institute's Working Economics blog. Isaac Shapiro is EPI's Director of Regulatory Policy Research.
The House of Representatives is poised to vote for the REINS (Regulations From the Executive in Need of Scrutiny) bill today; this would come on top of votes on two bills last week that would also upend the regulatory process. These efforts are premised on assertions that regulations are greatly damaging the economy, and David Brooks’ op-ed Tuesday is another timely reminder that these assertions are inaccurate. He opens with:
“Republicans have many strong arguments to make against the Obama administration, but one major criticism doesn’t square with the evidence. This is the charge that President Obama is running a virulently antibusiness administration that spews out a steady flow of job- and economy-crushing regulations.”
And closes with:
“They regulations are not tanking the economy.”
In between, he cites a few relevant facts to support his view that “regulations are not a big factor in our short-term economic problems.” These include the Bureau of Labor Statistics data which show that during the first half of 2011, just 0.18 percent of mass layoffs were due to regulations. EPI President Lawrence …