Since his 2021 election, President Joe Biden issued 99 executive orders. During his four-year term, former President Donald Trump signed 220 executive orders. Biden’s EOs so far have reportedly cost taxpayers $1.5 trillion.
Experts consider the president’s unilateral ambitions to be particularly expensive, especially considering the fact that the national debt is expected to reach $31 trillion by the end of this month and the high rate of inflation.
Matthew Dickerson, the Heritage Foundation’s chief executive officer, stated to Fox News Digital that Biden had already “cost taxpayers over $1 trillion so far.”
Dickerson suggested that this figure could be conservative, given that a CBO analysis showed “that less than ten” of Biden’s executive actions had cost taxpayers more than $500 billion.”
Rep. Jason Smith (R-Mo. Rep. Jason Smith (R-Mo.) stated that Biden had “charged American taxpayers $532billion” in just 16 months. This was without any input from the American people or their elected representatives.
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“Biden” proposed $34 billion to taxpayers’ bills when Democrat bills fell, including the budget reconciliation bill that would have expanded ObamaCare.
Biden also signed off Trump’s public charge rule. This allowed illegal aliens to receive additional welfare dollars and benefits. According to the CBO this will cost taxpayers $20 Billion.
Biden’s student loan handout, which has been in dispute over its legality, promises $10,000 in debt forgiveness to all borrowers with incomes below $125,000 and $20,00 for those who have Pell Grants.
According to the Penn Wharton Budget Model, the cost of debt cancellation is estimated at $519 billion for the ten-year budget window.
The new income-driven repayment plan and loan forbearance will add $16 billion to the total cost of the program. The total cost of the plan could exceed $1 trillion, plus any unforeseen costs.
According to the National Taxpayers Union Foundation, Biden’s student debt forgiveness will cost taxpayers around $400 billion. Although this is a lower estimate than other estimates, it would still result in an increase of the average burden for U.S taxpayers of $2,503.22.
According to the White House, the annual cost of Biden’s student loan program will be only $24 billion per year for a period of ten years.
Dickerson noted that Biden’s spending of “by fiat”, will also be covered by inflationary forces.
Spending on executive actions like student forgiveness “means that more money is being pumped into the economy that’s been financed by Federal Reserve. This means that the printing presses continue to be used, which adds to inflationary pressures.”
Biden’s actions, and the inflation they have caused, are “exacerbating 3.3 million worker shortage” Dickerson said. This is largely because Dickerson expanded “the welfare state” to pay “people to stay out the workforce”.
DACA’s preservation is costly. According to the Federation for American Immigration Reform, each illegal alien costs taxpayers $9232 annually and there are roughly 611,000 DACA recipients.
Concerning Biden’s EO to rejoin the U.S. climate accord, a 2019 Heritage Foundation estimate estimated that participation would result in an aggregate GDP loss exceeding $2.5 trillion and a loss of income of more than $20,000 per family of four.
The United States, which spends about $3.3 billion annually on the United Nations, funds the WHO to the tune $127 million per year. It also makes voluntary contributions. It will be costly to continue providing support.