Dec. 3 (Bloomberg) -- In 1981, President Ronald Reagan
instructed federal agencies that they could issue regulations
only after demonstrating that their benefits justified their
costs. With modest changes, Reagan’s successors, both Republican
and Democratic, have continued to impose this requirement on
agencies considering rules designed to protect clean air, food
safety, workplace safety and much more.
But a crucial question remains: Can the government’s
numbers be trusted, or are they just a lot of hot air?