So whether you agree or disagree, the regulatory burden is huge. These estimates are somewhere between 1.75 and over $2 trillion per year. Now compare that to The size of the American economy last year is $16.8 trillion. So the regulatory burden, potentially, again, this is a projection, potentially could be more than 12% the size of our economy. That is a massive burden on job creators. (02:05–02:10)
CLAIM
Asserts that the American economy's size was $16.8 trillion last year.
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