In it’s final 16 days in office, the Obama administration thought they would do some spending on their way out. the Obama administration pushed through regulations costing an eye-popping $24.8 billion, or over $1.55 billion a day.
The Trump administration has picked up the financial slack of the Obama administration, in Trump’s 11 months in office so far, his administration has spent just $5.8 billion in new regulations, or about $16.8 million a day, according to a new year-end report on regulations from American Action Forum.
“The trend of regulatory activity shifted dramatically in 2017 once President Trump assumed the presidency,” said the review by AAF’s Dan Bosch, director of regulatory policy, and research analyst Dan Goldbeck.
“What is most noteworthy is the disparity in the regulatory activity of the last three weeks of the Obama administration versus the more than 11 months of the Trump administration. Despite substantial new regulatory costs finalized in the last weeks of the Obama administration, the Trump administration made significant progress in slowing this growth the remainder of the year. In fact, 81 percent of all regulatory costs finalized in 2017 came during President Obama’s final weeks in office,” they wrote in the review provided to Secrets.
The numbers appear startling.
“Of the $30.6 billion in finalized costs last year, $24.8 billion came from 38 rules published from January 3-19, 2017, in the waning days of the Obama administration,” they determined. For Trump’s full year the cost has ben $5.8 billion.
AAF also said that the number of “finalized rules” was the lowest since 2005, as Trump is making good on his promises to lower the insane amounts of regulation and red tape we have wrapped around everything in this country.
Obama liked to spend money carelessly and Trump as a natural business man doesn’t love it and has been doing everything he can while in office to reverse the trends of excessive spending.