EPA Regulations Clouding Economic Recovery
President Obama’s chief economist Alan Krueger said today that uncertainty surrounding the payroll tax cut extension was clouding the U.S. outlook:
“Forecasting the economy is hard in part because it is hard to forecast whether Congress will continue the policies that are helping the economy to recover from the deepest recession in the post-war period,”
He might have been talking about the payroll tax cut, but it’s nice to finally hear someone in this administration admit that uncertainty will dampen our hopes for economic recovery. Now if only they applied that same logic to the massive number of costly and burdensome regulations put forth each month by their very own agencies.
Take the Environmental Protection Agency’s recent regulations. The Cross-State Air Pollution Rule (CSAPR), Utility MACT, reclassification of coal ash, new water intake rules, and new source performance standards for power plants will all place expensive and time consuming burdens on power plants and threaten our power grid’s reliability, increasing the likelihood of blackouts.
In addition to more blackouts, these regulations will destroy jobs and lead to higher electricity prices because many power plants won’t be able to afford to comply with the new environmental standards and will be forced to shut down. But as we all know, the EPA does not take jobs into account when they push their agenda.
The EPA unveiled its newest regulations today, which would limit mercury and other air pollutants they claim are linked to developmental disorders and asthma. Even though we are not facing an epidemic in our country, the EPA decided to move ahead with regulations that will destroy jobs.
Unfortunately, that is what Obama’s EPA is all about. They want to rush through as many regulations as they can as quickly as they can to centralize their power over the country, because if, in 2012, there is an administration change, they’ll lose their control.
Currently, President Obama allows the EPA to pass all kinds of regulations which destroy jobs and do nothing for the environment. Not only do they destroy current jobs, but they limit hiring. Because businesses must figure out how to comply with the onslaught of new, costly regulations, and they’re unsure of what is coming down the pike, they are reluctant to hire.
These regulations lead to the very same uncertainty that Alan Krueger was referring to. Only instead of $40 dollars a week to the average family, these regulations cost billions of dollars to the economy. That is not the way to encourage the sort of hiring we need in order to get us out of this economic slump.