Our View: 127,602,371
Posted: February 7, 2013
OK, care to wager a guess about that number, or to what it pertains? Hint: This is off-the-top-of-your-head kind of stuff, but one thing we can tell you is that it’s not the number of times the Ravens’ Ray Lewis has broken into his signature dance since, say, September.
Give up? Well, a new House report, chockablock with figures generated by both the IRS and President Obama’s own Office of Management and Budget, says it’s the total number of hours Americans — corporate number-crunchers and compliance officers, mostly — will be up to their necks this next year in ObamaCare red tape.
The report found its way to the desk of The (Washington) Examiner’s Paul Bedard who duly highlighted it in his “Washington Secrets” column. To provide some perspective, Mr. Bedard said this nation can “carve out” 1,039 more Mount Rushmores in the time it will take Americans to untangle themselves from the new health-care law’s red tape.
Seriously, this initial figure — the law doesn’t go fully into effect until next year — represents but “the tip of the iceberg,” says Rep. Dave Camp, chairman of House Ways and Means. Calling the onslaught of rules and diktats a “regulatory tsunami,” Mr. Camp says businesses will spend less time doing what they do best — producing things, creating wealth — due to hours drained dealing with ObamaCare. And it will be worse for truly smallbusinesses who don’t employ an in-house cadre of accountants, attorneys, and compliance officers.
Small wonder then that, writing in The American Spectator, Brandon Crocker, CFO of a San Diego-based real-estate management firm, would say that an economy eager to grow and rarin’ to go will not do so . . . largely because ObamaCare will suck the life out of any recovery.
And, should that occur, as Mr. Crocker says, we can offer 127,602, 371 reasons why.