Every dollar spent complying with federal regulations returned anywhere from $2.13 to $14.90 during the 2000s, according to a new report from the White House Office of Management and Budget (OMB). EPA rules accounted for approximately 84% of this alleged regulatory largesse. Needless to say, the OMB report is total nonsense.
First, the OMB report is not a re-analysis of costs and benefits claimed by federal agencies or a retrospective analysis of actual costs and benefits. The report simply parrots and adds up what the hallucinatory agencies have previously claimed.
In particular and as we pointed out in “EPA’s Clean Air Act: Pretending air pollution is worse than it is,” EPA benefits estimates are LOL-ably wild, if not entirely imaginary.
It’s really sad that OMB — once a respected champion of cost-benefit analysis — has been reduced by the Obama administration to bootlicking arithmetic.
I’m not sure which is more laughable, the claims by EPA or the fact that anyone with an IQ above a carrot would compile and report them without question.
This is what the government does – lies, cheats, and steals. It is no different than a mafia shale down scam and is identical to a ponzi scheme, and it is true at all levels of government, but most egregious in the federal government.
Does GWBush get credit for this?