(CBN / Worthy News)– Federal regulations are becoming so burdensome that they're weighing down the American economy. They're also costing Americans more money than they spend on food and clothing.
Wayne Crews, vice president of the Competitive Enterprise Institute, addresses the issue in his annual report "Ten Thousand Commandments."
"But now of course we've got a lot more than 10,000 commandments because we've had 88,000 regulations in just the past decade," he told CBN News.
Crews estimates federal regulations cost the economy a whopping $1.9 trillion a year, an eighth of the country's GDP. For an American household, that translates into almost $15,000 a year.