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Tuesday, 10th July 2007

Ten Thousand Commandments 2007

Ten Thousand Commandments 2007
Source: Competitive Enterprise Institute

President George W. Bush’s federal budget for fiscal year (FY) 2008 proposed $2.902 trillion in discretionary, entitlement and interest spending. Although those costs fully express the federal government’s on-budget scope, the government’s reach extends far beyond the taxes that Washington collects. Federal environmental, safety and health, and economic regulations cost hundreds of billions of dollars every year—in addition to official federal outlays.

Firms generally pass along to consumers some of the taxes imposed. Similarly, some regulatory compliance costs imposed on businesses fall to consumers. Exact regulatory costs can never be fully known; unlike taxes, they are unbudgeted. But scattered government and private data exist on scores of regulations and the agencies that issue them, as well as on regulatory costs and benefits, some of which can be compiled in a way that makes the regulatory state more comprehensible.

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