President Trump expressed interest in cutting federal regulations by 75%, maybe more. This is, if true, astounding.
President Donald Trump told business leaders on Monday he believes he can cut regulations by 75 percent or “maybe more.”
At the White House with 10 senior executives, he repeated his campaign pledges to roll back corporate rules, arguing that they have “gotten out of control.” A White House spokesman did not immediately respond to a request to elaborate on which rules Trump will target or how the 75 percent was calculated.
“We’re going to be cutting regulation massively,” but the rules will be “just as protective of the people,” Trump told reporters at the meeting that included Tesla Motors CEO Elon Musk and Under Armour CEO Kevin Plank.
Democrats and interest groups have expressed concern about Trump’s plans to roll back Obama administration environmental protections and pull out of the landmark Paris climate accords, among other regulatory pledges.
This statement may have one or more Washingtonian meanings. Normally, in GPO-speak, it could signal cutting the growth of regulation by 75% (and then not doing even .01%). That would be big by itself as the regs grow like kudzu in the moist Georgia heat.
It could mean slashing regs primarily afflicting those businesses present at the meeting with Trump. Still big.
Or, Trump may actually want to trim the hell of the C.F.R. This would be almost unimaginable.
Regulation is one of the big three tools (the others being taxation and inflation) that government uses to maintain control of everything. None (not as many) of those jobs and factories are coming back to the U.S. if the insane level of regulation isn’t reduced. One thing that makes China, etc. so much cheaper for business is the lack of the EPA, FCC, OSHA, IRS, etc., etc., etc.
Cutting these by 75% – or even 7.5% – would go a long way and dove-tail well with Trump’s statements on trade and taxes.
That would only leave the lethal inflation monster. Part of that is Congressional overspending, the other part is the Federal Reserve. Both parts are connected by design – both to each other and to the other robbery/murder tools. If Trump throws around veto threats and encourages a Fed audit, this could go beyond huge.
This could all get interesting in a hurry. It almost seems like the man really does want to MAGA. Developing…