Posted by: Middleclass Search | October 3, 2012

Regulations Part 3

The current regulatory system is not working well for either citizens or businesses. Consumers often assume that regulations are in place for their protection but many times these regulations have been subverted by modifications to the regulations or by budget restrictions on the regulatory organization responsible for oversight.  Sometimes the oversight organization itself is subverted and becomes an instrument of the group it is supposedly overseeing.

A review process needs to be developed whereby regulatory organizations are periodically checked to determine if they can still perform their mission. If manpower is an issue, Congress needs to go on record whether to continue to fund enforcement at effective levels or else warn the American people that they may be at risk because regulations can no longer be effectively enforced. Whenever a new regulation is passed Congress should cost out the enforcement of the regulation and fund it as a yearly requirement.

Corporations often see regulations as obstacles that prevent them from competing in the global market. Determining which regulations truly are obstacles and which merely help to protect present and future citizens is where our current regulatory system methodology needs review. Since this is an area where many lobbyists ply their trade, it is a difficult area in which to achieve positive congressional change.

To make a regulatory system operate correctly requires checks and balances that are dynamic and represent both the citizens of a nation and the corporations that operate within that nation. These checks and balances should represent what is best for the long-term survivability of the nation and its citizens.

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