Heavy Regulations Weakening US Economy

The US economy is growing at an annual rate of just one percent this year, its weakest number since 1949. 

Some analysts say one cause for that weakness has been the heavy burden of regulations that president Obama has piled on businesses.

The latest rules target all kinds of businesses and they drive up prices for consumers as well.

The average yearly GDP growth under President Obama has been less than half of what it was under President Jimmy Carter, 1.5 percent to 3.3 percent, according to an article by the Weekly Standard. 

The Wall Street Journal reports that seven years after the recession ended, current economic gains have yielded less growth than much shorter business cycles.

"What is really worrying is that pace has still been enough to reduce the unemployment rate further, suggesting that the economy's potential growth rate could conceivably be close to zero," Paul Ashworth, chief U.S. economist at Capital Economics, said.