Many took notice when, in a recent op-ed column in the Wall Street Journal, President Obama called for an overhaul of federal regulations to “make our economy stronger and more competitive.”
Citing the twin goals of public protection and economic progress, including “the promotion of a vibrant free market,” Mr. Obama said he has signed an executive order directing federal agencies to ensure that their regulations strike the right balance. The agencies are also directed to undertake a “government-wide review of the rules already on the books to remove outdated regulations that stifle job creation and make our economy less competitive.””
The nation has, “from time to time, embraced common sense rules of the road that strengthen our country without unduly interfering with the pursuit of progress and the growth of our economy.”
But, the President admitted, more needs to be done. Regulators needs to be vigilant to ensure that balance is continually struck, guarding against “absurd and unnecessary paperwork requirements that waste time and money” and “excessive, inconsistent and redundant regulation,” especially toward small business
“Agencies have been directed “to do more to account for—and reduce—the burdens regulations may place on small businesses. Small firms drive growth and create most new jobs in this country. We need to make sure nothing stands in their way,” Mr. Obama wrote.
We at Jobs for New England Now applaud the President’s statement and look forward to the fruits of his directive.
We are optimistic that Mr. Obama’s words will lead to a renewed emphasis on eliminating those regulations and other obstacles that restrict job creation and growth throughout the nation, especially New England. The logical next step is for our region’s governors, legislators and policymakers to embrace the same action plan: eliminate the unnecessary and burdensome regulations that inhibit growth and progress and sometimes even drive businesses out of New England. Such an approach will help us recover from the economic downturn faster, create jobs and bring about a new era of prosperity in throughout the region.
