Home » Uncategorized » Obama Signs Executive Order To Update and “Balance” Regulations

Obama Signs Executive Order To Update and “Balance” Regulations

President Obama, in an op-ed in today’s WSJ, outlined a new executive order to review regulations and “remove outdated regulations that stifle job creation and make our economy less competitive.”  He acknowledged that many government regulations have gotten “out of balance” and “placed unreasonable burdens on business—burdens that have stifled innovation and have had a …

President Obama, in an op-ed in today’s WSJ, outlined a new executive order to review regulations and “remove outdated regulations that stifle job creation and make our economy less competitive.”  He acknowledged that many government regulations have gotten “out of balance” and “placed unreasonable burdens on business—burdens that have stifled innovation and have had a chilling effect on growth and jobs.”

The new order requires federal agencies to balance the need to protect public safety, health and environment with the need to remove overly burdensome regulations and to evaluate costs vs. benefits of existing and proposed regulations.  He cited how the FDA considers saccharin safe for people to consume, but the EPA makes people treat saccharin like a dangerous chemical. 

He also outlined the need to modernize the regulatory system, for government to do more of its work online and to get rid of “absurd and unnecessary paperwork requirements that waste time and money.”  He also committed to reducing the burden regulations place on small businesses and acknowledged “small firms drive growth and create most new jobs in this country.”  For the complete story, click here.

About ChiefExecutiveNet

Chief Executive magazine provides global economy coverage, business and technology news, information on upcoming events, and executive life.