irresponsible behavior. [ applause ] >> rules to prevent financial problems or toxic dumping or faulty medical devices, these don't destroy the free market. they make the free market work better. there is no question that some regulations are outdated, unnecessary or too costly. in fact i've approved fewer regulations in the first three years of my presidency than my republican predecessor did in his. [ applause ] >> i have ordered every federal agency to eliminate rules that don't make sense. we've already announced over 500 reforms and just a fraction of them will save business and citizens more than ten billion over the next five years. we got rid of one rule from 40 years ago that could have forced