Editorial :" Wall Street Journal " 8.6.16

Note : The WSJ is owned by News Corp, a Robert Murdoch company .

" The progressive explanation for the slowest economic recovery in nearly 70 years is that expansions after financial crisis are always like this . "

" There appears to be no statute of limitations on this excuse , which is especially convenient every four years. But those who want more than a political rationalization might look to the all-time presidential record of costly regulation set by the Obama Administration . "

" The news from a government report to be released soon showing that Obama`s regulators have completed their 600th " Major Rule " ."

" A " Major Rule " imposes compliance costs of over $100 Million annually . For those keeping score that`s an average of 81 new " Major Rules " each year , or roughly one every three days that the Federal Government is operating " .

" The American Action Forum calculates that the estimated annual cost of all of this adds up to $743 Billion , based on data provided by Federal Agencies ".

" Some comparative cost perspective : $743 Billion is larger than annual economies of Norway and Israel combined . It amounts to a regulatory tax of $2,294 on every American each and every year. "

" The larger story here is that progressive economists talk and behave as if none of this effects economic growth. "

" Yet any entrepreneur or CEO will tell you that the ever expanding web of federal rules is a major preoccupation ".

" Meanwhile the regulatory onslaught continues -- and so does the meager 1% to 2% growth of the U.S. economy . "