Costs will rise
Cry Wolf Quotes
The economic impact would be devastating for the United States. We would see the loss of millions of jobs, entire industries would flee to other countries, our people would face higher fuel costs, higher taxes, leading to lower productivity and a lower standard of living.
...the result of such programs in other countries had been over utilization of facilities and rising costs, and that as emphasis shifted from quality to cost, as it must under a publicly financed program, a deterioration in the quality of care is inescapable.
The bill would, for instance, prohibit card companies from changing the rates they charge ‘at any time, for any reason.’ Translation: instead of a borrower’s interest rate varying up and down, it will just stay up. Or fees will rise, to offset issuers’ loss of pricing flexibility.
All told, some 16 million or more jobs will be needed in the next seven years. The statistics on the recovery from the 1974 recession indicate that such job creation is achievable. The major problem is to accomplish this goal through sound economic recovery and growth without increasing inflation or discouraging hiring by adding to labor costs.
Evidence
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Regulations at Work: Five Rules that Save Workers’ Lives and Protect their Health
This paper looks at five worker-safety regulations that were tremendously successful in reducing employee injuries, illnesses and fatalities.
