Regulations.

Doug Mills, reporting for The New York Times:

Echoing his days as a real estate developer with the flair of a groundbreaking, Mr. Trump used an oversize pair of scissors to cut a ribbon his staff had set up in front of two piles of paper, representing government regulations in 1960 (20,000 pages, he said), and today — a pile that was about six feet tall (said to be 185,000 pages).

Interpret as you like.