“I’m bankrupt. That’s it”

Government regulators are wreaking havoc on New England fishermen.

Minutes after New England fishery managers took a vote that cast doubt on the historic industry’s future, the prospects most clear to Gloucester fishermen Paul Vitale were his own.

“I’m bankrupt. That’s it,” said the 40-year-old father of three. “I’m all done. The boat’s going up for sale.”

The New England Fishery Management Council on Wednesday approved a year-to-year cut of 77 percent on the Gulf of Maine cod limit and 61 percent for Georges Bank cod.

The cuts come on top of a slew of other reductions, ranging from 10 to 71 percent, on the catch of other bottom-dwelling groundfish species, such as haddock and flounder.

Thank goodness, here in North Carolina, regulatory reform is a priority for the legislature and Gov. McCrory.

For a good roadmap to regulatory reform, state leaders should consult JLF” new book, First in Freedom.

A chapter on regulatory reform urges North Carolina to build upon changes made during the past two years. “They have made good progress, but the journey is incomplete,” said Jon Sanders, JLF Director of Regulatory Studies. “The final phase requires restoring transparency and accountability to the rulemaking process and putting the ultimate authority for major policy matters back in the legislature’s hands.”