Biden adds trillions to debt before election

 American Action News:


The Biden administration has added a total of $1.2 trillion in costs to the economy in the first several months of 2024 from finalized regulations as the president rushes to protect his agenda ahead of the November election.

The cost of the new regulations is more than double those added in the first three years of Joe Biden’s presidency, which totaled $447.9 billion, despite adding only 187 regulations so far in 2024 compared to the 783 added from 2021 to 2023, according to the American Action Forum’s (AAF) regulation tracker. The uptick in regulatory action by the Biden administration is in an effort to ensure that the new regulations are in place long enough that they cannot be easily revoked in the event that the president does not win reelection, according to a report from George Washington University’s Regulatory Studies Center.

Federal agencies issued 34 final rules in April that have an impact of $200 million or more, breaking the record for the most economically significant rules published in one month since at least the Reagan administration, according to the report. The rush is related to rules around the Congressional Review Act (CRA), which allows Congress to overturn rules from federal agencies within a “lookback period” of 60 working days before the end of a session of Congress — estimated to be somewhere between the end of May and the beginning of August.
...

Biden is intent on continuing his spending spree even if voters reject his agenda.  The Republican House needs to reject this reckless spending by Biden.

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