Lew indicated as the President wrote, our aim is to "strike the right balance" between what is needed to protect the safety and health of all Americans, and what we need to foster economic growth, job creation, and competitiveness. He said, "The Administration has followed this balanced approach since taking office, and this executive order formally details our basic operating principles. With this EO, there should be no confusion about what guides this Administration when crafting regulations. The basic tenets are: to consider costs and how best to reduce burdens for American businesses and consumers; to expand opportunities for public participation and stakeholder involvement; to seek the most flexible, least burdensome approaches; to ensure that regulations are scientifically-driven; and to review old regulations so that rules which are no longer needed can be modified or withdrawn. This smarter approach builds on the best practices of the past, while adapting to serious economic challenges the country faces today. . ."
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