Thursday, February 10, 2011

"Why the Republican Attack on “Job-Killing Regulations” is Dumb"

Robert Reich:
Here’s another instance of where the White House’s attempt to preempt Republican rhetoric (the President said last week his administration would root out all nonsensical and inefficient regulation) ends up legitimizing it — and reframing the public debate around an issue that’s hardly central to what ails America.

The reason we have continued sky-high unemployment has nothing to do with excessive regulation. There was no sudden outpouring of federal regulation in 2007 before the economy tanked and millions lost their jobs.

If anything, the economy unraveled because of too little regulation. Wall Street went on a binge, remember? MORE...

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