(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.
Copyright 1999-2016 Worthy News. All rights reserved.
Fair Use Notice:This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner.