DEREGULATION MATTERS: The Council of Economic Advisers has just released a new report summarizing and quantifying the effects of the President’s deregulatory agenda. It

…estimates that after 5 to 10 years, this new approach to Federal regulation will have raised real incomes by $3,100 per household per year. Twenty notable Federal deregulatory actions alone will be saving American consumers and businesses about $220 billion per year after they go into full effect. They will increase real (after-inflation) incomes by about 1.3 percent.

As the report also notes, “The ongoing introduction of costly regulations had previously been subtracting an additional 0.2 percent per year from real incomes, thereby giving the false impression that the American economy was fundamentally incapable of anything better than slow growth. Now, new regulations are budgeted and kept to a minimum.”

Turns out the new normal…wan’t.