With Congress at an impasse that’s likely to continue past the midterm elections, the administration is gearing up its regulatory activity so it can finish important initiatives before the end of President Obama’s term. Although the current administration has three years left to work on regulations, if the past is any guide, don’t expect a lot of them to be very well thought out.
During the last several years, agencies have seen sizable increases in their budgets, while also adding thousands of new rules and requirements to the books. Unfortunately, the economic analyses agencies are supposed to conduct to inform their decisions are often seriously incomplete. This sorry state of affairs will likely continue unless Congress adopts judicially enforceable standards for agency regulatory analysis.