A new report by the Regulatory Studies Center at the George Washington University finds that the cost of regulatory rules in 2012 exceeded the cost of all rules in "the entire first terms of Presidents Bush and Clinton, combined."
"The Office of Management and Budget quietly released its draft 2013 Report to Congress on the Benefits and Costs of Regulations on Friday, April 19, covering regulatory activity through the end (September 30) of fiscal year 2012," the short white paper reads.
"Recall that, as the presidential election approached, the White House was widely reported to be restraining the regulatory agencies out of concern for the state of the economy. Now that the results are tallied, however, there is little evidence of restraint. By the administration’s own estimates, the rules it issued in FY2012 alone imposed more costs on the economy than all the rules issued during the entire first terms of Presidents Bush and Clinton, combined."
The paper, signed by Susan E. Dudley, the director of the center, includes this chart, detailing the "annual costs of new regulations":