- In a speech in Osawatomie, Kansas yesterday, Mr. Obama excoriated the ostensible Republican philosophy that he said favors “weakening oversight and accountability,” but these reforms are designed to increase oversight and accountability. Mr. Obama seems to oppose them because they require Congress and the White House to take responsibility for the costs they impose on the private economy. Contrary to the new liberal theme that regulations don’t matter, those costs are real and growing rapidly.
- The legislation known by the acronym Reins would require Congressional and Presidential approval of all “major regulations,” those costing more than $100 million a year. In practice this reform would produce far more sensible and moderate regulation than we’ve seen out of this Administration so far, while also serving as a check on future political branches. The other two bills would change administrative procedures to more transparently and accurately measure costs and benefits.