As the battle to control Congress heats up, Republicans and Democrats are blaming each other for Washington’s runaway spending and high deficits. And they’re both right.
A positive result of all this mudslinging is many voters are becoming familiar with some sobering numbers. This year, the federal government will spend about $3.5 trillion and will run a deficit of about $500 billion. But another equally important figure has yet to gain enough attention: The federal regulatory state costs the economy an additional $1.86 trillion annually.
Continue reading this piece here.