From my single favorite blogger on the planet, Warren Meyer:
No one in government, that I have heard, has even suggested any sort of regulation holiday as a potential economic stimulus program. In fact, most of the legislative moves at the national level have made private investment less attractive
Seriously – if the economy is on the brink of disaster and we have unprecedented employment problems, is that not a reason to lighten the choke hold? Of course it would make sense – but politically this is a non-starter, perhaps a worse idea than ending Medicare (which is a good idea in the real world). Why? Because if this were proposed, it would be an admission that regulations and meddling are harmful for economic growth and prosperity. However, the state religionist view is that these regulations make us more competitive and are part of a more “just” 21st century economy that will do things a different way. So, we will not get serious about any stimulus that involves a shrinking of the grabbing hand.