Federal Regulations are mostly everlasting rules that are published by agencies and executive branches of the Federal Government. The code regulations cover 50 titles, each of them represent general subject areas. Some of the regulation titles are grants and agreements, the President, accounts, domestic security, agriculture, banks and banking, energy, business credit and assistance, Federal Elections, labor, education, transportation and so on. The titles are divided into branches. Those branches are dedicated to agencies who issue regulations for that subject. Every branch is divided into parts and then those parts are split up into sections.
The main goal of the code is to list the complete list of regulations in one standardized publication, so that anyone who needs to research or look up certain regulations may do so. The regulations are updated often by the daily Federal Register. There are about 200 regulation volumes total and they are usually updated once a year.
The enactment and constant changes to the CFR directly affects the quality of life for every single American and their families. The launch of new regulations have also directly affected the United State’s economic growth during that time. According to a recent study published in the Journal of Economic Growth, the economic growth has dropped by an average of 2 percentage points per year due to constant regulations being implemented.
The total amount of regulations have ballooned over the past 60 years. In 1949, the number of pages in the code of regulations was approximately 19,335. That number has skyrocketed to 169,301 pages as of the year 2011. Our country’s productivity output, due to the ever increasing regulations, has directly affected the Gross Domestic Product. As of the year 2011, The United State’s gross domestic product was $15.1 trillion dollars. If the amount of regulations remained constant since 1949, the gross domestic product today would be $53.9 trillion!
Though it is true that regulations have benefited the country with higher minimum wages, less air pollution etc., the negative effects of regulations completely outweigh any positives.
Access to the entire list of regulation rules may be viewed by anyone who desires to. It can be seen as an electronic publication on the GPO’s Federal Digital System for no cost or as a paper publication at any Federal Depository Library.
Whether your opinion on regulations is positive or negative, one thing is for sure, that is, due to the massive influx of Federal Regulations over the past decades, the average American household earns about $53,000 a year. Had the regulations stayed the same, the average American household income would be approximately $330,000 a year!