Decades Ago, Robert Kennedy Explained Something That Trump Still Doesn't Know About The Economy

Climate Progress points out, Decades Ago, Robert Kennedy Explained Something That Trump Still Doesn't Know About The Economy .

In reality, slashing regulations, particularly regulations from the Environmental Protection Agency, would be very counterproductive, as a 2015 Office of Management and Budget (OMB) report to Congress made clear. The OMB found that ten years’ worth of major Federal regulations provided annual benefits to the nation (in 2001 dollars) of between $216 billion and $812 billion, while the estimated annual costs were only between $57 billion and $85 billion.

Of that, EPA regulations delivered the majority of benefits ($132.5 to $652 billion) but only about half the costs ($31 to $37.5 billion).

Of course, lots of those benefits were things like reduced health care costs because the air got cleaner — and those benefits don’t show up in our primary measure of economic growth, GDP. Indeed, reducing sickness and death actually lowers GDP."