President Obama: Toward a 21st-Century Regulatory System

[ProSense]

Toward a 21st-Century Regulatory System

If the FDA deems saccharin safe enough for coffee, then the EPA should not treat it as hazardous waste.

By BARACK OBAMA

For two centuries, America's free market has not only been the source of dazzling ideas and path-breaking products, it has also been the greatest force for prosperity the world has ever known. That vibrant entrepreneurialism is the key to our continued global leadership and the success of our people.

But throughout our history, one of the reasons the free market has worked is that we have sought the proper balance. We have preserved freedom of commerce while applying those rules and regulations necessary to protect the public against threats to our health and safety and to safeguard people and businesses from abuse.

From child labor laws to the Clean Air Act to our most recent strictures against hidden fees and penalties by credit card companies, we have, from time to time, embraced common sense rules of the road that strengthen our country without unduly interfering with the pursuit of progress and the growth of our economy.

Sometimes, those rules have gotten out of balance, placing unreasonable burdens on business—burdens that have stifled innovation and have had a chilling effect on growth and jobs. At other times, we have failed to meet our basic responsibility to protect the public interest, leading to disastrous consequences. Such was the case in the run-up to the financial crisis from which we are still recovering. There, a lack of proper oversight and transparency nearly led to the collapse of the financial markets and a full-scale Depression.

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Mark Thoma

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There will now be a rush of lobbyists explaining to Congress and agency heads that the regulations the industries they represent face are excessive and need to be removed. There will be no shortage of effort in this direction. At the same time, a similar effort will be devoted to opposing any new regulation.

We need tougher, better regulation in many areas, and I'm sure there's a bad regulation to be found as well. But if the administration is going to move in this direction, it had better be prepared to match the effort it is up against. If it doesn't -- if special interests succeed in swaying the process in their direction -- we"ll end up as far from the "the right "balance" as ever. I hope the administration realizes that this is not an effort it can take lightly with a sweeping proclamation for action that attempts to straddle the political fence. To make this work, the administration will need to do the hard work needed to lead this process forward and guide it to a satisfactory end.

[Lorien]

1. Reagan redux.nt

[ProSense]

2. Not

likely.

Appointed Elizabeth Warren to establish the consumer bureau

Elizabeth Warren Recruits Dodd-Frank Enforcers From 50 States

Enacted shareholder rules on executive pay

Fed's massive data release offers new insight into financial crisis

[rocktivity]

3. Is this a stealth admission that he's going to cave

and continue the "failed Bush policy" of allowing the regulated to WRITE the regulations? If so, then it's Reagan redux indeed.

:headbang:
rocktivity

[ProSense]

4. The trend is excellent

Obama signs bill putting tobacco products under FDA oversight

Formaldehyde Standards for Composite Wood Products Act

Banning antibiotics in livestock production

Food Safety bill

[FrenchieCat]

5. LOL!

Glass half empty? In 2 years and you wanted what exactly? a Magic Wand waved? :rofl:

How about getting real, instead of providing propaganda against this administration,
that has done more positives than they will ever be given credit for, until some GOP assholes
take over the White House with the help of some of our so called "friends".

[rocktivity]

8. This isn't about him, but what he's supposed to stand for

Democrats aren't supposed to stand for folding while the cards are still being dealt.

:headbang:
rocktivity

[ProSense]

9. This

"Democrats aren't supposed to stand for folding while the cards are still being dealt."

...obviously isn't the case.

The President's intentions are always subject to speculation, and he is often accused of doing things before he does them, sometimes before he even mentions them.

Cutting Social Security, for example. Pushing back hard against cutting Social Security becuase the GOP are willing to do it is understandable, but why insist that the President will cut Social Security?

If this isn't about him, why make the cuts a foregone conclusion, as if to prepare people for an inevitable outcome that he hasn't proposed?

[Enrique]

6. corporations are enjoying record profits

President Obama, time to address the urgent needs of WORKERS. Businesses are doing swell.

[ProSense]

7. Yes

they are and they need to take care of workers.

If business were failing, the President would be further accused. Businesses need to be thrive, but they also need to hire.

There is still a lot to do.