Surging Immigration Will Reduce Deficits by $1 Trillion

“Higher levels of immigration are boosting America’s economy and will reduce the deficit by about $1 trillion over the next decade.

In its semi-annual forecast of the country’s fiscal and economic conditions, released this week, the Congressional Budget Office slightly lowered its expectations for this year’s federal budget deficit. The CBO now expects the federal government to run a $1.5 trillion deficit, down from the $1.6 trillion deficit previously forecast.

That reduction is due in part to higher-than-expected economic growth, which the CBO attributes to “more people working.” The labor force has grown by 5.2 million people in the past year, “mostly because of higher net immigration.””

“It also tracks with what other studies have repeatedly shown: More legal immigration grows the economyhelps fund government programs, and doesn’t strain entitlement or welfare programs.

Unfortunately, the very same Congress that bears most of the responsibility for the federal government’s poor fiscal state is also a major hurdle to increasing legal immigration that could help solve some of that fiscal mess.”

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