But the American people perceive the regulatory environment somewhat differently than does the president. Three quarters — 74 percent — of voters throughout the country believe that businesses and consumers are over-regulated, according to a Public Notice poll released today. And they strongly suspect that much of that over-regulation has been implemented recently: 67 percent believe that regulations have increased over the past few years.
In fact, they’re right. The rate at which regulatory burdens are growing has accelerated under the Obama administration, according to a Heritage Foundation backgrounder. During its first 26 months, the Obama administration imposed 75 new major regulations with reported costs to the private sector exceeding $40 billion. During the same period, six major rulemaking proceedings reduced regulatory burdens by an estimated $1.5 billion — for a net increase of more than $38 billion.