That’s James Pethokoukis’ observation in this AEI piece. We are getting fewer business startups than in the past. He says that doesn’t agree with the contention that entrepreneurship cannot be taught (which I find quite debatable), but the real problem is that it can be deterred. The ever-increasing cost of complying for federal and state regulations, worst of all, Obamacare, undoubtedly deters some people from doing the tough and risky work of starting a new business. That’s one of the many hidden costs of our growing governmental leviathan.