In his time as President, Joe Biden has issued close to 100 executive orders. These will cost taxpayers almost $1.5 trillion at a time when the national debt is close to $31 trillion.
Since taking office Biden has signed 99 executive orders. This in part is because during his first year in office he signed more executive orders than any president since the 1970s.
According to some of the memos, some of Biden’s orders and regulatory items have also been influenced by liberal billionaire George Soros.
One of the reasons why it is hard to estimate the exact price tag of Biden’s orders is because many of them use vague language regarding the impact they will bear on the federal costs. However, according to a federal budget expert, they estimate that the cost of all of these orders will be higher than $1 trillion.
Heritage Foundation’s Mathew Dickerson in an interview with Fox News Digital said that the cost will be more than $ 1 trillion, especially including the recent actions regarding student loan forgiveness.
According to an analysis from earlier this year made by the nonpartisan Congressional Budget Office the cost of Biden’s orders had been higher than $500 billion. As Dickerson explained this means that Biden’s executive orders alone could be higher than $1.5 trillion in costs, and that does not include any of the laws and bills being debated through Congress.
The student loan forgiveness announcement made by Biden earlier this year is estimated to cost taxpayers $500 billion. However, according to a more recent Penn Wharton Budget Model analysis the cost could also be upwards of $1 trillion.
All of this might also have an impact on inflation because of all of the new spending.