A chicken in every pot and a car in every garage – Herbert Hoover, 1928
President Barack Obama wrote an op-ed in the Wall Street Journal, Toward a 21st Century Regulatory System, trying to justify his administration's decision to review and rescind Federal Regulations by executive order.
This order requires that federal agencies ensure that regulations protect our safety, health and environment while promoting economic growth. And it orders a government-wide review of the rules already on the books to remove outdated regulations that stifle job creation and make our economy less competitive. It's a review that will help bring order to regulations that have become a patchwork of overlapping rules, the result of tinkering by administrations and legislators of both parties and the influence of special interests in Washington over decades.
Where necessary, we won't shy away from addressing obvious gaps: new safety rules for infant formula; procedures to stop preventable infections in hospitals; efforts to target chronic violators of workplace safety laws. But we are also making it our mission to root out regulations that conflict, that are not worth the cost, or that are just plain dumb.
In December, he EPA removed Saccharin from the Chemical Hazardous Materials list. Now the President touts Saccharin as an example of a job killing regulation that has been fixed.
You know who manufactures Saccharin these days? China. Saccharin is made from petroleum based organic chemicals and supposedly doesn't help in losing weight either. Saccharin is not just for TAB, it's also used for electroplating.
Even worse, it's unclear if the US removed anti-dumping laws against China for Saccharin, but most U.S. manufacturers were wiped out, with only PMC being around to make the stuff. It's unclear if they are in business.
Bottom line, removing the FDA classification of Saccharin as a hazardous material helps China, not Americans get some damn jobs.
More odious, we have no concrete information of which regulations will be rescinded for this supposed economic growth. Why announce an executive order, with no specifics beyond some artificial sweetening?
What exactly does this executive order mean? Whose pot is team Obama really stirring? If a multinational corporation complains about some regulation and claims it is costing them money, whoops, out comes the scissors and there it goes?
Or does it mean White House For Sale. Remember multinational corporations, the executive branch has executive orders. See something you don't like? For a small campaign contribution nominal fee, we can remove that for you.
Regulations are almost never touted by economists as causing the dire situation of needing over 11 million jobs to get back to 2007 unemployment rates. It doesn't seem the White House will be sifting through regulations looking for those missing jobs either. After all, the jobs are not between those pages. Instead those lost jobs are squished, pressed and stuck in a host of other policies the administration has control over, such as trade and offshore outsourcing.
Pundit propaganda chants Obama has moved to the middle. Multinational corporations and their agendas, with deep pockets for media buys and media spin, is not the center. The political center is that black hole the middle class feel into. Multinational corporations and their agendas is simply not the U.S. middle class or even the real U.S. job creators anymore.
Removing a few regulations some business or sector doesn't like isn't going to create American jobs. It might buy an election, though, a play straight from the 1996 Clinton deregulation playbook. Wow, that helps the U.S. economy and middle class now doesn't it? It gave us the China trade agreement and the deregulation of Wall Street which lead to the 2008 Financial crisis. But who cares? It gave Bill Clinton a second term.