Swift slashing of Obama-era regulations saves more than 2X Trump's goal, $1.65B

[Swordsmyth]

The Trump administration, in a frenzy to kill Obama-era regulations and beyond, more than doubled its savings goal and is on a pace to make record cuts to rules the president claims are jobs killers.
A new report on the year in regulation slashing from American Action Forum (https://www.americanactionforum.org/research/trump-administration-regulatory-savings-more-than-double-goal/) said that the administration achieved $1.65 billion in regulatory savings, miles above its goal of $687 million.
And the administration is just starting on helping President Trump make good a campaign promise to kill regulations and brake the issuance of new ones, said the report.


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“Considering there is already more than half a trillion in proposed rule savings to date this year, some of the administration’s most significant measures may be a major part of agencies’ FY 2019 budgets,” said the report from AAF regulatory experts Dan Bosch and Dan Goldbeck. (https://www.americanactionforum.org/research/trump-administration-regulatory-savings-more-than-double-goal/)
What’s more, the administration has started to shift from nixing Obama rules to digging deeper to cut others.
“The Trump administration easily surpassed its annualized savings goal, with savings more than double the target. By and large, the agencies covered by Executive Order 13,771 adhered closely to its principles, reversing a long trend of escalating regulatory costs. Encouragingly, the administration’s regulatory savings have shifted from delays and withdrawals of Obama-era rules to substantive deregulatory changes,” said their report provided in advance to Secrets.
The administration's war on regulations, policed by the Office of Management and Budget, has been followed by every agency though nine did not register savings and will be required to develop a plan to do so.

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Leading the way, said Bosch and Goldbeck, were Health and Human Services, Interior, Labor, Justice and Transportation. Their regulation slashing accounted for $1.4 billion in annualized savings.

More at: https://www.washingtonexaminer.com/washington-secrets/swift-slashing-of-obama-era-regulations-saves-more-than-2x-trumps-goal-1-65b

[juleswin]

And then he spent 8x that much in 2018 bailing out US farmers because of his trade wars. Talk about addition by subtraction. If he was really care about the fiscal well being of this country, he would just cut spending period.

[Swordsmyth]

And then he spent 8x that much in 2018 bailing out US farmers because of his trade wars. Talk about addition by subtraction. If he was really care about the fiscal well being of this country, he would just cut spending period.
Spending is bad and hopefully we can get it cut down but the regulations not only cost the government to enforce but also cost the economy even more.

[juleswin]

https://www.youtube.com/watch?v=If5PfUUX0d8

[kpitcher]

I love how they save 1 billion and somehow throw in the wording of "more than half a trillion in proposed rule savings to date this year". So they have identified a lot of regulation but have only achieved 0.2% of it but it's an amazing success. Sure it has to start somewhere but that's really stretching to even throw out that number.

[Grandmastersexsay]

https://www.youtube.com/watch?v=If5PfUUX0d8

I can't wait for trucking to be fully automated. I'm tired of them blocking traffic, passing other trucks in the right lane going 1 mph slower than them. I will see trucks in the left most lane on a 6 lane divided highway on a daily basis.

[CaptUSA]

I love how they save 1 billion and somehow throw in the wording of "more than half a trillion in proposed rule savings to date this year". So they have identified a lot of regulation but have only achieved 0.2% of it but it's an amazing success. Sure it has to start somewhere but that's really stretching to even throw out that number.

I would argue that this is the crowning achievement of the Trump administration, so far. The regulatory state was on the opposite trajectory for quite a while - they've really turned the tide. From a libertarian perspective, this is even higher on my list of accomplishments than the Gorsuch appointment. That being said, it's hard to look at these regulatory reductions in a vacuum when this same administration is INCREASING regulations in other places. Namely, central planning of international trade. If you're going to be honest about regulations, you should probably include them all.

Still, I have to give credit where it's due here. No other administration has even come close to addressing the regulatory state on this level.