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May 9, 2016

Data Spotlight: What Was Washington Up To This Weekend?

This weekend was the 142nd running of the Kentucky Derby. The race takes about two minutes. Before the race, the U.S. Chamber of Commerce took a look at what the federal government “accomplishes” in two minutes, and what the private sector does. According to the Chamber, every two minutes:

  • Federal regulators release 1.3 pages of new or proposed regulations;
  • The federal government spends $9.8 million on Social Security, Medicare, Medicaid, and interest on the national debt;
  • U.S. businesses sell about $8.5 million worth of goods to customers overseas; and
  • Three immigrant entrepreneurs open a new business in the United States.