The Best the Government Can Do

The SBA proved incapable of running the 'paycheck protection program,' and Congress' massive spending didn't manage to adequately fund it; economic disaster 'loans' may or may not materialize; unemployment seems to be hard to come by if you can get the systems to work at all; the IRS is apparently unable to process tax returns in a timely manner even though they're getting far less of them than usual. The FDA and CDC screwed up their basic jobs nine ways to Sunday, and hampered private efforts to find ways to test.

The one thing that the government has done that has worked is suspending itself. Suspending regulations let truck drivers get where they needed to be faster, suspending liability laws (via things like the Defense Production Act's temporary nationalization of meat plants) allows businesses to continue to operate. The best the government can do is to stop doing.

Which makes this move the right thing to do. You want job creation and economic growth? Shut down the regulatory agencies as hard as you can.

2 comments:

MikeD said...

More of this, and harder.

David Foster said...

Don't forget state & local government regulations...some of these are among the most problematic.

Obviously, Trump can't eliminate these by executive order, but there are other approaches, including mockery...