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Special Report

Grapevine: Cost of complying with gov't red tape is massive

And now some fresh pickings from the Political Grapevine…

Compliance Costs

A new report says-- the cost of complying with government red tape is massive-- more than the entire GDP of Canada-- or India.

The Competitive Enterprise Institute released a report-- that puts a price tag on federal regulations.

After tallying it all up-- the cost to American consumers and businesses-- is almost $2 trillion-- in lost productivity and higher prices.

Average that out-- and it's around $15,000 per household.

While Congress only passed 224 new laws last year-- more than 3500 regulations were put on the books.

The report does not blame either party-- calling on Congress to quote:--

"Cease delegating legislative power-- to unelected agency personnel."

Cause & Effect

Louisiana is considering cutting $500 million in higher education spending-- including layoffs and scaled- back programs-- to help with a big budget deficit.

But one project not on the chopping block:-- construction of an $85 million recreation facility-- including a lazy river-- spelling out-- LSU.
The school says-- the construction funds come from a student fee-- not the state budget.

But one professor says-- that's no excuse-- that the school should cut wasteful spending-- and raise tuition-- to balance the books.

Negative Development

Finally-- One man wants nothing to do with selfies-- even though he made them possible.

Steve Sasson invented the digital camera in 1975.
The original weighed 8 pounds-- and only took pictures in black and white.
He told the Washington Post that-- during a recent panel discussion-- the audience tried to blame him for selfies.
He says he wants nothing to do with them-- but handles complaints with a sense of humor.

"I simply talk about the law of unintended consequences."