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We’re more doomed than we know: The cost of government regulation is actually 80 times higher than OMB’s estimate, according to the estimates made by each individual government agency.
“While OMB officially reports amounts of only up to $88.6 billion in 2010 dollars,” said Crews, “the non-tax cost of government intervention in the economy, without performing a sweeping survey, appears to total up to $1.806 trillion annually.”
The $1.8 trillion number comes from looking at the estimates made by each agency and then adding them up.