The Lord of the Lies: Donald Trump’s uncivil war

Anti-politics is most evident in his emphasis on deregulation. The deregulatory clock defines the Trump presidency. With other presidencies, legislation matters. With Trump, the repeal of legislation matters. It is not just the repeal of Obamacare. It is the repeal of many constraints on economic and social behaviour. The deregulation model is simple: not to make regulations more efficient, just take a sledgehammer to them.

Three revocations are illustrative. The repeal of a requirement for oil and gas companies to report methane emissions; the repeal of an executive order protecting ocean, coastal and Great Lakes waters; and the revocation of flood standards for infrastructure projects. There have been more than seventy major environmental regulation rollbacks, and there will be more. It is the same for financial deregulation. The rollbacks of the Sarbanes-Oxley and Dodd-Frank Acts are proceeding. Future risks are priced to zero; the lessons from previous crises forgotten. It is deregulation without foresight.

The irony of the Trump presidency is that he is pushing us towards self-regulation when he has never regulated himself. He has failed to honour commitments to employees, to contractors, to students, to tenants, to other taxpayers and to the truth. He has failed to regulate himself. It is failure against which we should regulate.

 

via The Lord of the Lies: Donald Trump’s uncivil war