Word: cost-benefit
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...reason is Sunstein's support for cost-benefit analysis, the practice of examining regulations to ensure that their benefit to society outweighs whatever costs they impose. Liberal advocacy groups claim that cost-benefit analysis has been a weapon that every Republican President since Ronald Reagan - who created OIRA - has used to thwart effective government regulation of the environment, workplace and consumer safety. OIRA, after all, examines all proposed federal regulations before they take effect - be they issued by the Environmental Protection Agency, the Food and Drug Administration or the Occupational Safety and Health Administration - and it has the power...
...face of it, the idea of cost-benefit analysis seems like a relatively uncontroversial idea. It seems reasonable to assess, for instance, whether improvements in public health are significant enough to justify the financial costs imposed on polluters to curb the emission of harmful particles into the air. Reasonable, that is, until you start to fashion formulas for deciding just how costs and benefits should be measured...
...voluminous writings, Sunstein (who is not giving interviews before his confirmation hearings) has repeatedly defended the idea of a strong regulatory state. But his critics say that on a case-by-case basis he routinely comes down in favor of applying cost-benefit analysis in a way that would disallow the regulation in question. And they haven't forgotten that in 2001, Sunstein backed George W. Bush's choice of John Graham to head OIRA, though 37 Senate Democrats voted against him. Under Graham and his successor Susan Dudley, OIRA applied cost-benefit analysis stringently, with what their critics...
...think later” repeats Japan’s mistakes. Tokyo spent $2.1 trillion between 1991 and 1995, yet the economy stagnated. Politicians built roads to nowhere, starving businesses of capital and workers of jobs. Washington should fund some infrastructure repairs, but such projects should undergo cost-benefit analyses. Lacking such oversight, the bill recently rushed through Congress will breed fraud and waste...
...attending camp. In New Jersey, three councils merged into a single group with six camps - two of which weren't being used much. Those two probably won't operate next summer, says Mary Connell, CEO of Girl Scouts of Central and Southern New Jersey, which will do a cost-benefit analysis of all the region's camps...