U.S. federal regulations impose nearly $2 trillion in annual costs on American business, according to the Small Business Administration. President Barack Obama thinks that’s probably too much and now wants regulators to strike out needless red tape. Better late than never. Even better, Congress should have more power to do the cleanup itself.
This is actually quite astonishing. A “staff discussion draft” from the Federal Trade Commission recommends ways the government can save journalism. First, it lists a number of ways Washington can subsidize the media (to the tune of $35 billion a year):
The Federal Communications Commission decision to begin the process of imposing an Internet neutrality rule — network operators such as AT&T would be barred from charging variable prices for different kinds of traffic from content providers such as Google or Amazon — is curious as well as wrongheaded.