According to a new report, Joe Biden’s tidal wave of new regulations is costing each American household $10,000 a year.
And it is going to get worse, especially if Biden gets a second term.
Per the New York Post:
Should Biden’s regulatory trajectory keep pace with that of his former boss, Barack Obama, the cost will skyrocket to roughly $60,000 per household by the end of Biden’s possible second term in office, the Committee to Unleash Prosperity estimated in a recent report that measured “current and expected future costs.”
“This is an across-the-board human capital crisis like we haven’t seen for decades,” Casey Mulligan, the University of Chicago professor who authored the report, told “Fox & Friends” Friday.
Many of the new rules include policies on the environment, energy, healthcare, telecommunications, and transportation.
Biden has cost Americans far more than either Obama or Trump.
Costs for the president’s red tape in 2021 and 2022 clocked in at around $173.4 billion, according to government agencies. However, the watchdog pegged the costs at $616.7 billion, with Mulligan citing the feds’ “systematic and proven propensity to understate costs.”
Trump’s regulatory impact was measured at a cost of $8.6 billion by the government agencies, while the watchdog estimated savings of $323.9 billion. Obama’s rules added a cost of $147.9 billion, per the agencies’ estimations and $534.8 billion, per the watchdog.
Joe Biden is a wrecking ball.Commentary