Find balance between rules, benefits, then call it good

There’s a new agenda for state and federal bureaucrats: Cut the red tape.

Both President Obama and Gov. Hickenlooper have made a comprehensive review and reduction of business regulations a priority for 2011. In the Wall Street Journal on Jan. 18, Obama wrote, “we are making it our mission to root out regulations that conflict, that are not worth the cost, or that are just plain dumb.” The governor made essentially the same pledge during his statewide tour earlier this month.

Before we celebrate the return of the unfettered days of the robber barons, however, keep in mind that both say the…