Rollbacks matter…

Great piece from Christopher DeMuth.  It’s behind a WSJ.com pay wall but here’s the key bit:

Federal regulation has been growing mightily since the early 1970s, powered by statutes that delegate Congress’s lawmaking authority to mission-driven executive agencies. Beginning in 2008, the executive state achieved autonomy. The Bush administration during the financial crisis, and the Obama administration in normal times, decreed major policies on their own, without congressional authorization and sometimes even in defiance of statutory law.

President Trump might have been expected to continue the trend. As a candidate, he had railed against imperious Washington and promised to clear regulatory impediments to energy development and job creation. Yet he also was an avid protectionist, sounded sometimes like an antitrust populist, and had little to say about regulatory programs like those of the Federal Communications Commission and the Food and Drug Administration. He was contemptuous of Congress and admiring of President Obama’s unilateral methods. Clearly, this was to be a results-oriented, personality-centered presidency.

The record so far has been radically different. With some exceptions (such as business as usual on ethanol), and putting aside a few heavy-handed tweets (such as raising the idea of revoking broadcast licenses from purveyors of “fake news”), President Trump has proved to be a full-spectrum deregulator. His administration has been punctilious about the institutional prerogatives of Congress and the courts. Today there is a serious prospect of restoring the constitutional status quo ante and reversing what seemed to be an inexorable regulatory expansion…

More:

A third indicator is the introduction of regulatory budgeting, which sounds tedious but is potentially revolutionary. The idea goes back to the late 1970s, when the new health, safety and environmental agencies were first issuing rules that required private businesses and individuals to spend tens of millions of dollars or more. It seemed anomalous that this should be free of the disciplines of taxing, appropriating and budgeting that applied to direct expenditures. Jimmy Carter’s commerce secretary, Juanita Kreps, proposed a regulatory budget as a good-government measure; Sen. Lloyd Bentsen (D., Texas) introduced legislation; and several academics (myself included) worked out the theory and practicalities in congressional reports and journal articles.

The idea never went anywhere.

Excellent read.  Hat tip Austin Bay of instapundit.com