"Our national regulatory structure is 170,000 pages long and, according to Steve Forbes, costs our economy about $2 trillion a year. That’s about as much in totalas we collect yearly from business and personal income taxes. Yet ironically the process of regulation is largely unregulated, does not have to derive its specific authorities from law, and as a practical matter is protected from independent judicial process. America’s federal government is the only element of government in our country not subject to generally accepted accounting principles independently promulgated by experts, and independently audited on time by accounting firms with full transparency and timely reporting to citizens, including a full explanation and official acceptance of responsibility by leaders and managers for the outcomes."
Read the full article on: Bill of Financial Responsibilities Project