According to the Office of Management and Budget, Americans currently spend 10 billion hours wading through federal paperwork requirements. In fact, in just one week in March, regulators added $1.4 billion to the regulatory burden, along with another 6.7 million hours of paperwork. And according to the National Federation of Independent Businesses, the largest problems for small businesses in February were regulation and red tape. Overall, the costs of regulation have become a significant problem. With the economy still enervated from the financial collapse of 2008, perhaps it is time to address the increasing regulatory burden, which can stifle the best laid schemes for economic growth.