Biden nears 100 executive orders estimated to cost taxpayers almost $1.5 trillion

Fox News


President Biden has issued nearly 100 executive orders, which will cost taxpayers up to $1.5 trillion, as the national debt nears $31 trillion, according to an expert.

Biden currently sits at 99 executive orders since taking office. His torrent pace came primarily within his first year, when he issued more than any president since the 1970s. Memos show at least one outside left-wing group financed by millions from liberal billionaire George Soros has influenced some of Biden’s orders and regulatory items.

A budgetary impact analysis, meanwhile, accompanies each order but does not include actual monetary costs. Instead, they contain vague language such as whether an order will have no impact, increase or decrease federal costs.

This makes it difficult to pinpoint the actual price tag of Biden’s actions. However, a federal budget expert told Fox News Digital that they estimate the costs to be north of $1 trillion.

“President Biden’s executive actions have cost taxpayers more than $1 trillion so far,” the Heritage Foundation’s Matthew Dickerson told Fox News Digital in an interview. “That’s taking into account the recent student loan executive action, which could cost up to $1 trillion.”

“But earlier this year, the nonpartisan Congressional Budget Office produced an analysis showing that less than ten of Biden’s earlier executive actions cost taxpayers already more than $500 billion,” Dickerson said.

“So it could be up to $1.5 trillion in cost to taxpayers just on executive actions, not legislation going through Congress and being signed into law and being debated,” Dickerson added. “It’s just pure executive actions taken by Biden costing taxpayers up to $1.5 trillion.”

Biden’s student loan forgiveness is a large chunk of the costs. In August, he announced plans to forgive $10,000 in student debt for borrowers making less than $125,000 annually, while Pell Grant recipients will receive $20,000 in handouts if their income falls below $125,000.

The student loan handout was initially estimated to cost taxpayers upwards of $500 billion, but a recent Penn Wharton Budget Model analysis shows it could reach upwards of $1 trillion.

Dickerson said the executive orders could also have an impact on inflation. “It would be significant because all of this new spending that the executive branch is doing, that Biden is doing by fiat,” he said.

“That means more money getting pumped out into the economy that’s being financed by the Federal Reserve, which means the printing presses are on, which means that it adds to the inflationary pressures,” Dickerson said. “The executive actions that Biden is doing are incredibly harmful for inflation because they are specifically aimed at reducing the supply of labor and goods and services.”

Inflation is even impacting the U.S. Army, which recently released guidance for soldiers as they fight inflation, including a suggestion that they take advantage of the Supplemental Nutrition Assistance Program, commonly known as food stamps.

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