In an interview with Fox, Heritage Foundation's Matthew Dickerson said, "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. It's just pure executive actions taken by Biden costing taxpayers up to $1.5 trillion."
Dickerson continued that as much of Biden's agenda is being implemented by "fiat" it "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."
Inflation rests at a 40-year high, much of which was caused by Biden's back-to-back $1.9 trillion American Rescue Plan and $1.2 trillion infrastructure bill spending plans from 2021.
"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.
A "budgetary impact analysis" comes with each of Biden's orders but the language does not specify "whether an order will have no impact, increase or decrease federal costs."
The national debt hovers near $31 trillion and is expected to increase after the passing of both the Inflation Reduction Act and student loan forgiveness.
Fox News reports that Biden's policy, especially as it relates to executive orders, is being formed in large part by the group Governing for Impact (GFI), "a secretive group backed by nearly $13 million from Soros nonprofits."
Internal memos obtained by Fox revealed GFI boasted about how they had lobbied Biden to enact 20 of their agenda items, all of which pushed for more regulation in areas of education, environmental, health care, housing, and labor issues.
On their website, GFI states, "Many of the proposals on this site focus on how the new administration could unwind the previous administration's harmful regulatory legacy, but GFI continues to take on new policy projects at all levels of government."
Trump issued 220 executive orders throughout his four-year presidency, while Obama had issued 276 over his eight years in the Oval Office. Biden issued most of his orders in his first year, accounting for about $200 billion, which is more than both Trump and Obama's at the same point in their presidencies.
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