Former Trump adviser calls on Biden to reinstate cost-benefit analysis to rein in 'out of control' agencies
Pressure mounts on Biden to cool government spending as inflation hits another 40-year high
Former senior adviser to President Trump Kevin Hassett urges tighter regulations and reinstation of cost-benefit analysis in the White House as President Biden receives more pressure to combat rising inflation.
Former senior adviser to President Trump Kevin Hassett joined "Cavuto: Coast to Coast" Tuesday and discussed President Biden's handling of the economy and inflation, arguing government spending and new allowances for federal agencies are contributing to rising inflation.
KEVIN HASSETT: If you think about one of Joe Biden's first executive orders was to make it so the Cabinet agencies could pass new regulations without passing a cost-benefit test. And that's why now there have been twice as many new regulations as there were under President Obama, because I can tell you that, like, if you go back to say, under President Obama, Peter Orszag, Office of Management and Budget, they took the cost-benefit analysis seriously. Jason Furman, when he was Obama's chairman of the CIA in the position I had, they put out a cost-benefit analysis, which I didn't super agree with that was really careful about their climate plans. And so the point is that by taking that away, that you speed up the regulation process. And what I would do if I were advising President Biden is I would say, look, we need to bring the cost-benefit analysis back. Even President Obama's team used it well to keep the agency from getting out of control. And we need to do it, too, because the agencies are really out of control.
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Former senior adviser to President Trump Kevin Hassett unpacks the effects of President Biden’s economic policy on the overall economy as inflation skyrockets.