As the Wall Street Journal reports today, the Obama administration is in a mad dash to rush out the regulatory wish list of the progressive left before leaving office. Everything from the electric industry to finance, healthcare, food, and even the labor market are in the Obama administration’s cross hairs. You might think that after almost 8 years of sub-par economic growth, starting from one of the most depressed bases in decades, that it would sink in that vast regulatory overreach creates uncertainty for business and hinders growth. You would of course be wrong. The small-business sector is the nation’s job engine and with small-business sentiment already sinking, a flood of new regulation is exactly what the economy does not need.
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Jeremy Jones, CFA is the Director of Research at Young Research & Publishing Inc., and the Chief Investment Officer at Richard C. Young & Co., Ltd. Jeremy is a contributing editor of youngresearch.com.