Am I the only one who can't wait for Biden to leave the White House and for the deregulation dream team to come into power?
This stat from the Biden administration's term is almost unfathomably painful to see.
Forbes did a writeup on the debt per household number this summer. And according to the analysis, the regulatory state has become unbearably burdensome to all Americans.
Atop federal spending generating that debt load of $200,000 per taxpayer, Congress and agencies prod extensively in the form of economic and social regulation ...
Were one to allocate annual regulatory costs assuming the full pass-through of costs to consumers, U.S. households "pay" $15,788 annually in embedded costs ($2.1 trillion in regulation divided by 134,090,000 consumer units), or 17 percent of average income before taxes (and of course more as a share of after-tax income).
You owe $200k per family in debt on US spending AND you're losing $15k a year per family as well due to government regulations.
This is not a sustainable system of government, as the costs of out-of-control government will continue to get passed down to the citizens.
The average U.S. household spends far more on regulation, therefore, than on either health care, food, transportation, entertainment, apparel, services, or savings.
DOGE, Chevron, Trump 2024. All things are pointed in a positive direction.
But, man, have we made it hard on ourselves the last century!
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