President Barack Obama Tuesday ordered a government-wide review of regulations with the goal of eliminating those that hurt job creation and make the U.S. economy less competitive.
Photo by : Pete Souza
Obama took action after unveiling his plan in an op-ed piece in the Wall Street Journal in which he said some rules have placed “unreasonable burdens on business — burdens that have stifled innovation and have had a chilling effect on growth and jobs.”
The executive order marked Obama’s latest move to repair relations with U.S. business, which were frayed amid bitter debate over his overhauls of Wall Street regulations and healthcare that some business leaders said would stymie corporate America.
Obama has struck a more business-friendly tone since his Democrats lost the U.S. House of Representatives and saw their Senate majority reduced in November congressional elections widely seen as a verdict on his handling of the stumbling economy and persistently high unemployment.
It was not immediately clear, however, how far-reaching Obama’s new regulatory strategy would be in changing the way the federal government operates.
We should all hold our breaths while we find out, right?