I disapprove of President Trump's tariff economics, as I mentioned. But the President is quietly doing more good than harm by reducing regulations. According to the Whitehouse web site, federal agencies are killing ten old regulations for every new one.
In his first term, Trump ordered agencies to eliminate two regulations for every new one. They achieved ten this year! Why is that important?
The National Association of Manufacturers estimate that regulations cost U.S. businesses over $3 trillion every year. That's 12% of gross national product, which is the total income of the country! Wise people, those who know economics, understand that the money could be put to better use. In other words, the real cost of such regulations is the things we give up to pay for them. Can you imagine what we could do with $3 trillion dollars?
