mr. gattuso also said that he supported was the idea of having both houses of congress do regulation that has the economic significant regulation, correct? and in your written testimony, you said that there were about 180 regulations like that they were issued in two dozen eight, which was the last year the bush administration. is that correct? >> yes. >> your answer is yes? okay. now, here is what i learned about. in 2008, that same year, we were in session 118 days, but there were 180 such regulations. and i would assume it is not your view that every economically significant regulation should be repealed, right? some of them are useful, right? >> no, i'm not here today saying we should repeal anything. >> right, what you're saying is there should be a higher standard of scrutiny, which i agree with you at my concern is if you require all those things to come to congress and congress is only in session a few days a year, we might not get to reviewing all of those regulations. you understand that? >> let's say there is a new regulation and it's an economically significant regulation. so

mr. gattuso, welcome. >> chairman stearns and members of the subcommittee, thank you for the opportunity to testify. four months ago the president issued an executive order instructing all executive branch agencies to review regulations in their book. next week and this morning our administrators initialed progress of the review of agencies this report was encouraging as agencies identify the potential of unnecessarily costly regulations. at the same time it proposed to constitute only a small step toward the rollback of red tape in the american economy. much more substantial reform is required. the burden of regulation steadily increased in the last three decades through republican and democratic administrations. during the present administration the rate of increase reached unprecedented levels. according to figures by the heritage foundation data provided by the accountability office, federal agencies got an unprecedented 43 major regulations in fiscal 2010 alone. .. themselves of at least $28 billion. in the same period, a handful of rule makings were completed that reduced burdens o

mr. gattuso also said you support it was the idea of having both houses of congress to approve any regulation that has this impact and economically correct? and in your written testimony you said there were about 180 regulations like that that were issued in 2008 which was the last year of the bush administration. is that correct? >> those are government numbers, so yes. >> your answer is yes. okay. here's what i'm concerned about. in 2008 that same year we were in session 118 days, but there were 180 such regulations, and i would assume it is not your view that every economically significant regulation should be repealed, right? some of them are useful, right? >> i'm not saying you should repeal anything. >> but what you're saying is there should be a higher standard which i agree with. my concern is if you require all those things to come to congress and it's only a few days a year we might not get to reviewing all the regulations. do you understand that? >> there's nothing being proposed that would go retro -- >> let's say there's a new regulation the obama administration is proposing and