President Joe Biden made promoting competition a prominent feature of his economic agenda. When issuing his executive order on competition, the president said, “Capitalism without competition isn’t capitalism; it’s exploitation. . . We can bring back more competition to more of the country, helping entrepreneurs and small businesses get in the game.”

Then why is his administration killing competition by choking the same companies he claims to champion? In his first two years in office, his administration added $318 billion in regulatory costs and more than 218 million hours of paperwork—damaging small businesses, according to the American Action Forum. In comparison, the Trump administration lowered regulatory costs by $200 million over four years, and the Obama administration’s annual increase in regulatory costs—about $25 billion—was only one-sixth of Biden’s annual rate of increase.

Read Dr. Jamison’s complete blog post at AEI.