Is President Trump the King of Deregulation? According to facts, it definitely appears so. The thing is, the US government’s immense bureaucracy is known for adding more than 13,000 new regulations/restrictions on average (annually) for the past twenty years.
Basic math and common sense says that such behavior on government’s part is aimed at stifling competition and kills small businesses, but let that go. The good news is that under President Trump’s reign in the White House enforcing his Make America Great Again agenda, the number of new regulations is virtually zero. During a speech aimed at pushing his tax reform program on October 11th, President Trump described America’s economic revival in optimistic terms, crediting his administration for having eased the way for organic growth. Let’s see the quote:
Since January of this year, we have slashed job-killing red tape all across our economy. We have stopped or eliminated more regulations in the last eight months than any president has done during an entire term. It’s not even close.
Even if that quote may seem pompous and self aggrandizing to Trump haters, the truth is that the Donald is the best-ever deregulator, i.e. he was telling complete veritas. Here’s a fact: President Donald Trump has overseen more deregulation during his less-than-one-year-in-office than Bush 41 or Ronald Reagan, whose motto was ‘government is the problem’.
According to Patrick McLaughlin of the Mercatus Center, regulation increased over the full terms of every recent president, including Ronald Reagan. So far, there has been zero increase in regulatory restrictions under Trump, and you can take it to the bank.
President Trump has used his executive orders/directives for overturning many of Obama-era rules and regulations. For example, one of his most significant actions was Executive Order 13771, which required for every new regulation created by a government agency, 2 outdated/ineffective/excessively costly regulations had to be scrapped. That was a very clever idea, working together with another exec-order that required for the cost to the economy of any new regulation/restriction must be offset by savings from canceled regulations.
This is an immense progress compared to the regulation-happy Obama administration. It is said that Obama never met a regulation it didn’t like, and the same can be told about Republican administrations prior to Obama.