President Obama’s State of the Union wish list would add $39.995 billion a year to the federal deficit — $680 billion last year – according to a line-by-line cost analysis of the speech by the National Taxpayers Union Foundation.
Here are the president’s three most expensive calculable lines, according to the report:
1. “… [I]f we are serious about economic growth, it is time to … fix our broken immigration system … So let’s get immigration reform done this year.”
Cost: $20.2 billion
The CBO estimates S. 744, the Border Security, Economic Opportunity, and Immigration Modernization Act, which was passed by the Senate in June would cost $101 billion over the next five years.
2. ” … [T]his Congress needs to restore the unemployment insurance you just let expire for 1.6 million people.”
Cost: $12.84 billion
The CBO estimates H.R. 3546, the Emergency Unemployment Compensation Extension Act of 2013 would cost $19.17 billion in the first year and $6.51 billion in the second.
3. “Last year, I asked this Congress to help states make high-quality pre-K available to every four year-old. As a parent as well as a President, I repeat that request tonight.”
Cost: $3.458 billion
According to the White House Mid-Session Review of the budget, this would add $130 million in the first year and $17.291 billion over five years.
Obama’s most expensive address was last year with a price tag of $83.4 billion.
“… [T]he proposals for new federal expenditures he outlined … add up to a hefty price tag,” said NTUF Director of Research Demian Brady. “Moreover, his push for new mandates, regulation, and tax hikes, particularly on energy, will give taxpayers and business owners plenty to be wary of.”
NTUF’s calculations are based on federal spending only and do not account for revenue impacts.