A new study published today shows that since 2009, President Obama has enacted over 600 major regulations, costing taxpayers nearly $800 billion dollars. That's according to the conservative think-tank American Action Forum (AAF), which also shows that 2012 was a record-breaking year for the most regulations. The study doesn’t include the minor regulations, of which Obama has imposed nearly 400,000 a year via federal agencies like the EPA, FDA, and FCC. That comes out to about one ‘major’ regulation every four or five days or one rule every three days when the federal government is working.

Major regulations have major impact

The AAF describes a ‘major’ rule that negatively affects the economy by at least $100 million or more. The new study shows the Obama administration has pushed out roughly 81 major regulations per year and cost taxpayers billions. That comes out to about $2,300 per person in the U.S., says Sam Batkins, the regulatory policy director at the AAF, who conducted the study.

One such regulation is the Clean Power Plan (CPP), which has forced the shuttering of coal-fired power plants across the country and sent electricity prices skyrocketing.

The CPP was so burdensome, that the Supreme Court issued a stay that prevented its implementation because 29 states and industry are challenging its legality.

Regulation nation

By his sixth year in office, President Obama had implemented more regulations than his predecessor did in eight years.

And after reaching the 600 major regulations mark, that was 20 percent more than the previous president did in eight years. The AAF notes the federal government is open only 250 days a year, which means a major regulation was unveiled every three days or roughly two per week.

How much is $743 billion? That equates to over $2,200 for every person living in America. By the end of July this year, Obama has added 40 percent more rules and regulations than his President George W.

Bush. Keep in mind that after 9/11, Bush issued a bevy of new regulations and implemented the Sarbanes-Oxley rules, but still came nowhere near the number that Obama has attained.

Even more regulations to come

The AAF has determined that by the end of his term and after all the new rules have been tallied, Obama will have issued 641 major regulations.

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This number doesn’t include the period between Election Day and Inauguration Day, considered to be one of the most active regulatory periods for any president. By the time the next president is sworn in, it’s estimated Obama will have issued 31 percent more major regulations than President Bush.

The AAF foresees three pending areas that Obama plans to regulate before he leaves office. They include greenhouse gas standards for heavy-duty trucks, the “Federal Policy for the Protection of Human Subjects,” and new standards to make manufactured housing more efficient.

The AAF says that all these rules and regulations will effectively lower wages, create fewer jobs, and trigger higher prices.

Doing the math

Yesterday, presidential candidate Donald Trump (R) outlined his economic plan for the country and, if elected, promised to roll back the Dickensian regulations and taxes that are hurting consumers and businesses. His plan has been likened to President Ronald Reagan's fiscal blueprint for growth. Last quarter, the U.S.’s Gross Domestic Product (GDP) was 1.2 percent, the lowest it’s been since 1949 and a key indicator of a country's financial health. Leading analysts believe the anemic economy, abysmal GDP, and stagnant wages are signs of a looming recession.

Under President Reagan, the GDP was consistently as high as eight percent.

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