CHART OF THE DAY: Washington Fat Cats Are Getting Fatter
Investors Business Daily reports:
Under President Obama, while the economy is struggling to grow and create jobs, the federal regulatory business is booming.
Regulatory agencies have seen their combined budgets grow a healthy 16% since 2008, topping $54 billion, according to the annual “Regulator’s Budget,” compiled by George Washington University and Washington University in St. Louis.
That’s at a time when the overall economy grew a paltry 5%.
Meanwhile, employment at these agencies has climbed 13% since Obama took office to more than 281,000, while private-sector jobs shrank by 5.6%.
If you missed my piece the other day on recession-proof DC, check it out.
Also, pick up a copy of Iain Murray’s Stealing You Blind. In addition to being a scholar at the Competitive Enterprise Institute, Murray is an Englishman whose legal immigration to the U.S. took four years, no thanks to our bloated, inefficient bureaucracy.
Hat tip: Veronique de Rugy