Immigration reform should net positive economically without debt

June 19th, 2013

Peter Nolan

Good news is that a story from The Hill this early evening reports that the Congressional Budget Office says immigration will reduce the deficit by $197 billion over 10 years.

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The cost is $262 billion and the return is $459 billion netting a positive.

The Heritage Foundation said that immigration reform would cost trillions. Their analysis did not account for any benefits. Because The Heritage Foundation put political spin on their assessment, they lost all credibility.

America is built on the power of immigrants. More pertinent questions include the following list of five:

1. What is America’s total population limit?

America should be pursuing a no-growth population policy, and the decline in the growth rate is a positive direction. The goal should be to optimize the return on national resources and to do that, we must limit the population size.

2. What skill, knowledge, and proficiency is expected from the American workforce with accounting for both current force and new immigrant additions? forum.uschamber.com

On the present course, America will become a third world country. Our population is falling behind, lacking requisite skill, knowledge, and experience to compete in the world.

3. What skills, knowledge, and proficiencies are needed to sustain the U.S. as a superior performer among world economies?

Capitalism isn’t patriotic. Investors will go where the return in highest. To attract and hold investors in America, the workforce need must improve its credentials.

4. What are the gaps?

With 1% of Americans holding 90% of the wealth, something is terribly wrong.

5. What plans, programs, and investments are needed to produce a sustainable economy with a good life for all Americans?

“AEI’s Kevin Hassett and Aparna Mathur wrote in yesterday’s WSJ about how the “access of low-income Americans to devices that are part of the ‘good life’ has increased” over time, here are some examples from their article:
1. The percentage of low-income households with a computer rose to 47.7% in 2009 from 19.8% in 2001.
2. Appliances? The percentage of low-income homes with air-conditioning equipment rose to 83.5% from 65.8%, with dishwashers to 30.8% from 17.6%, with a washing machine to 62.4% from 57.2%, and with a clothes dryer to 56.5% from 44.9%.
3. The percentage of low-income households with microwave ovens grew to 92.4% from 74.9% between 2001 and 2009. Fully 75.5% of low-income Americans now have a cell phone, and over a quarter of those have access to the Internet through their phones.”

http://www.aei-ideas.org/2012/10/access-to-the-good-life-for-low-income-americans-comes-from-the-miracle-of-the-marketplace-especially-manufacturing/

Good news is in this report.

“CBO estimates Senate immigration bill cuts deficit by $197 billion
By Erik Wasson – 06/18/13 04:41 PM ET

The Senate immigration bill would reduce deficits by $197 billion over 10 years, according to the Congressional Budget Office.

The bill would increase spending by $262 billion between 2014 and 2023, but would increase revenue by $459 billion, according to the non-partisan office.

In the next decade, it would reduce the deficit by $700 billion, CBO said.

http://thehill.com/blogs/on-the-money/budget/306311-cbo-immigration-bill-cuts-deficit#ixzz2WbmxMd9Y

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