Senator Susan Collins of Maine is proposing legislation for a 1 year moratorium on new regulation.
First, I agree with Ms. Collins, enough is enough. Do we really need congress regulating to the point of ordering walnut companies not to market the health benefits of their product? If harm were inflicted because of this apparent indiscretion, someone or some group would be inclined to take the issue to the courts. The cost of litigation, risk of losing the argument and risk of counter suit serve as deterrents to fraudulent or even neutral accusations. Are lobbyists being employed to circumvent the risks/reward equation inherent in our judicial system? Legislators often ask the judiciary not to legislate from the bench. Maybe legislators should not judge from the Capitol, especially since impartiality is not their strong suit.
It is a sad state of affairs when our government needs a law to tell it to halt their inferred mandate. A time-out is a term used in parenting. It describes a situation where a parent has a child take a quiet minute to ponder their behavior. The parent empowers the child to realize the negative effects of such behavior on themselves and the ones around them.
So, our legislative branch needs a “time-out.” A 1 year pause in behavior. Given a moment to ponder, would they realize the costs and loss of jobs that this behavior is causing our country? Or would they emerge more eager than ever to pursue the same inferred imperative.
Ideally Ms. Collins shouldn’t need to spend legislative resources to prevent legislators from enacting regulation with questionable benefits and onerous costs. If her efforts can help ease the burdens on our economy, I am all for it.
For information on Alhambra Investment Partners’ money management services and global portfolio approach to capital preservation, Douglas R. Terry is reachable at dterry@alhambrapartners.com
