It is late spring in Washington and spending is the topic of the season. Congress is currently struggling to pass some $30 billion in supplemental spending for 2002 as well as a federal budget for 2003 that includes over $700 billion in discretionary spending. These spending battles are highly publicized, and budget hawks are quick to highlight the pork tucked away in these spending bills. Yet, at the same time, almost 130,000 federal regulators are quietly finalizing over 4,000 new rules and regulations that are estimated to cost Americans more than $800 billion this year. Despite the fact that the regulatory burden is greater than discretionary spending, it is rare for regulations to receive the public scrutiny devoted to federal spending.