If you're wondering why the stock market has risen in recent months despite uninspiring economic news, look no further than the Federal Register. This massive volume, where all new regulations are published, promises a bright economic future. Agencies are required to conduct cost-benefit analysis for regulations estimated to cost more than $100 million. Thankfully, there are hundreds such rules underway, and they forecast tremendous growth for our sluggish economy. In fact, writes Roger Meiners of the Property and Environment Research Center, using estimates of the social cost of carbon as divined by a panel of experts, government agencies widely claim that regulations can be justified as economic stimulus. So, sit back and relax knowing that growth is on its way.
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