President Obama (Credit: Creative Commons)

President Obama announced through an opinion article published in Tuesday's issue of the Wall Street Journal that he plans to issue an executive order for a review of federal regulations.

Obama said in the Wall Street Journal:

"This order requires that federal agencies ensure that regulations protect our safety, health and environment while promoting economic growth. And it orders a government-wide review of the rules already on the books to remove outdated regulations that stifle job creation and make our economy less competitive. It's a review that will help bring order to regulations that have become a patchwork of overlapping rules, the result of tinkering by administrations and legislators of both parties and the influence of special interests in Washington over decades."

Obama's pro-corporation push to spur the economy comes on the heels of selecting former J.P. Morgan Chase & Co. Executive William Daley as his Chief of Staff.

Read Obama's full opinion piece here.