Americans are struggling, as they learn that President Biden’s economy is a cruel economy. In an op-ed for Fox News, Republican Leader of the House Committee on Budget and member of Ways and Means Jason Smith (R-MO) catalogs President Biden’s reckless spending over 16 months, citing CBO’s estimate that he has charged American taxpayers $532 billion through executive actions alone.
- “These executive actions have become so commonplace in the Biden administration — with 530 undertaken so far – and the implications for taxpayers so glaring, that I asked the Congressional Budget Office (CBO) to determine the cost of Biden’s eight most expensive executive actions. The results are stunning: in just 16 months, Joe Biden has charged American taxpayers $532 billion — all with no input from the American people themselves or a vote by their elected representatives in Congress.”
- “Biden’s actions are not only expensive, they are damaging to the American economy and American workers. The president talks about how few Americans are looking for jobs, touting low unemployment numbers. But rarely, if ever, does he talk about how many businesses are looking for workers.”
- “There are currently 11.3 million job openings in our country. Much of this labor shortage is the result of the president’s reckless executive actions and economic policies that expanded welfare programs — in one instance at a cost of $300 billion in expanded benefits — while gutting work requirements, which kept able-bodied workers sidelined and forced businesses to shut down. Telling able-bodied workers they do not have to look for employment will cost the American taxpayer an estimated $14 billion.”
- “While American families are projected to spend over $5,000 more this year because of the president’s inflation crisis, Biden is busy issuing executive orders that will add hundreds of billions to the taxpayer’s tab and enact sweeping policies that expand Washington command and control over Americans’ lives — without Congress ever authorizing those actions or appropriating that spending. All the while, the president is trying to perpetuate a myth that he is reducing the deficit.”