President Trump’s promise to cut Obama-era regulations has gone into overdrive, with the slashing generating $33 billion in savings, far more than expected.
A new report from the White House budget office said that $23 billion in savings has occurred this year alone, with the total at $33 billion since the president took office.
Over his first 21 months in office, former President Obama impose $245 billion in new regulations.
What’s more, Trump’s promise to cut two Obama-era regulations for every new one has been pushed aside for far deeper cuts. The Office of Management and Budget reported that in the last fiscal year the administration cut 12 regulations for every new one it proposed.
Neomi Rao, who oversees regulation as the administrator for OMB, also said in the report that the administration is making moves to block agencies from sneaking in new regulations by requiring a more transparent process.
President Donald Trump said Wednesday he would cut the federal budget with the help of his Cabinet, a proposal that analysts said was aspirational at best and unlikely to affect the skyrocketing federal deficit.
“We’re going to ask every Cabinet secretary to cut 5 percent for next year,” Trump said before a Cabinet meeting at the White House.
The president’s request is likely for his fiscal 2020 budget proposal, which is due to Congress early next year.
It’s a low bar, admittedly, but Trump is a more libertarian, and more conservative, president than any in my lifetime.