The federal regulatory state is out of control and the American economy is suffering as a result. Every year, the flurry of rules and regulations emanating from the web of administrative agencies, departments, and bureaus cost the American people between $1 trillion and $2 trillion. Regulations not only inflate the price of goods and services, squeezing the household budgets of middle-class Americans, but they also drive up the cost of doing business, so that only the biggest firms and their armies of lawyers, accountants, and compliance officers can thrive.