Obama Backs Down on Ozone Standards

Perhaps this is the first sign of a president being "scared straight":

President Obama decided Friday morning not to raise ozone standards for air pollution favored by environmentalists but decried by business groups and Republicans.

In his decision, relayed to Environmental Protection Agency Administrator Lisa Jackson, Obama cited the need to remove uncertainty for businesses that would be affected.

"I have continued to underscore the importance of reducing regulatory burdens and regulatory uncertainty, particularly as our economy continues to recover," Obama said. "Ultimately, I did not support asking state and local governments to begin implementing a new standard that will soon be reconsidered."

Complying with the new regulation could have cost from $10 billion to $90 billion annually, making it by far the most expensive new rule on the federal books. It topped the list of proposed regulations that could cost more than $1 billion demanded recently by House Speaker John Boehner.

The U.S. Chamber of Commerce, congressional Republicans and others had complained that raising ozone standards for air pollution would cost billions of dollars and result in lost jobs.

This is a direct response to the dismal jobs report that came out this morning. Businesses aren't going to hire when the regulatory environment is as unpredictable as it is today. More of this kind of action is required and quickly.