Episode 968: CEI’s Annual Report of the Federal Regulatory State

In this episode of Newt's World, host Newt Gingrich opens with a celebration of the historic Artemis II mission, highlighting its significance as the first crewed flight around the moon since 1972 and a milestone in America's return to deep space exploration. He praises the mission's crew—Victor Glover, Christina Koch, Jeremy Hansen, and Reed Weissman—for breaking barriers as the first person of color, first woman, oldest astronaut, and first non-American to orbit the moon. Gingrich frames the mission as a symbol of American leadership in space and a harbinger of a new era of freedom and innovation in the solar system, with SpaceX's Starship poised to follow. The episode then shifts to a detailed discussion with Wayne Cruz, Fred L. Smith Fellow in Regulatory Studies at the Competitive Enterprise Institute, about the 30th anniversary edition of the '10,000 Commandments' report. Cruz reveals that federal regulatory costs may exceed $2 trillion annually—equivalent to 20% of the average household budget—and could reach $3 trillion according to the National Association of Manufacturers. He argues that regulation is a hidden tax, often more burdensome than corporate income taxes, and that the administrative state has grown unchecked, especially post-COVID, with massive spending bills like the Inflation Reduction Act and Chips and Science Act embedding regulatory mandates. Despite Trump’s deregulation efforts, Cruz warns that the 'regulatory dark matter'—guidance documents and informal rules—remains a major challenge. He advocates for a regulatory budget, the RAINS Act, and restoring the Congressional Review Act to reassert legislative control. The episode closes with Gingrich addressing a listener question about Federal Reserve independence, cautioning against political interference and the use of the Justice Department to target officials, even as he acknowledges his disagreement with Jerome Powell’s policies.