Over the last decade, federal regulatory agencies finalized more than 37,000 regulations, yet 92 percent of rules escaped review by the Office of Information and Regulatory Affairs (OIRA), a small office tasked with reviewing significant regulatory actions promulgated by such agencies.
This week’s charts use data from the Export-Import Bank and the Census Bureau to display assistance dispersion among minority- and women-owned exporting firms as a proportion of those in the general economy, along with the top 10 firms that receive assistance and the proportion of their benefits to the whole.
This week’s chart uses data from a new Cato Institute study quantifying some of the industrial “winners” and “victims” of Ex-Im subsidy policies. The chart shows that Ex-Im policies benefit far fewer industries than they penalize.
This chart depicts two data series from RegData 2.0—word counts and restriction counts. Each series contains aggregated statistics for all federal regulatory agencies that were required to engage in rulemaking by the Dodd-Frank Act of 2010.
State and local governments often increase sales taxes to generate additional revenue; however, projections of added revenue tend to be over-optimistic, in part because sales tax exemptions tend to increase along with the tax rate. These charts illustrate the relationship between average sales taxes and exemptions among the states (five states without sales taxes were removed, as was Hawaii because of its complex tiered system).
This week’s charts use data from the Congressional Budget Office’s (CBO) recently released update to its Budget and Economic Outlook to show the trends and components of projected debt and deficit increases. The charts show that debt and deficits will continue to grow over the coming decade, although enacting certain policy changes—such as freezing most discretionary spending at current levels or extending expiring tax cuts—could over the next decade shrink deficits by $615 billion or add $897 billion to baseline deficit projections, respectively.
These charts show that the federal government will not be able to provide the same level of services without significant reforms to entitlement programs that drive the bulk of spending and compound future interest payments on the federal debt.
This week's charts use new data from the recently released 2014 Old-Age and Survivors Insurance and Federal Disability Insurance (OASDI) Trustees Report to update a previous Mercatus Center chart series presenting projected cash flows and worker-to-beneficiary ratios for Social Security programs.
When confronted with regulation, producers are likely to alter production levels and processes in ways that they would not have otherwise chosen. We also expect competition to decline in heavily regulated markets since the burden imposed by regulation functions as a barrier to new firms who wish to enter the market. Consequently, productivity in industries should decline as the regulatory burden placed on them increases.
RegData 2.0 is a newly launched regulation database that permits users to view regulatory statistics for hundreds of federal agencies. The chart uses statistics pulled from the new RegData website to determine which federal regulators published the most restrictions in the year 2012 and compare the number of restrictions from these regulators in 2012 to the number of restrictions they published ten years earlier.
To reflect on the significance of Hayek’s Nobel Prize and the various strands of influence his work has had in subsequent decades of scholarship, please join us for a keynote speech and panel discussion by some of Hayek’s most prominent colleagues and interlocutors.
What do GDP reports really tell us? What does economic freedom have to do with job growth? For answers to these questions and more, the Mercatus Center at George Mason University invites you to join us for an exploration of the economic situation as Dr. Bruce Yandle presents his quarterly economic commentary.