President Obama issued an executive order this week directing federal departments “to root out regulations that conflict, are not worth the cost, or are just plain dumb.” Writing in The Wall Street Journal, Obama also offered a qualified defense of government rules, arguing that they “strengthen our country without unduly interfering” with the economy. And he pledged to plug “obvious gaps” in the regulatory framework, including a need for new rules for infant formula.
The review will focus on health and environmental regulations. Financial regulators such as the Securities and Exchange Commission, which is writing new rules to implement financial reform, are exempt.
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