The wave of migrants welcomed by President Joe Biden’s border chief imposes a huge and unfair economic burden on working Americans whose taxes are used to feed, house and care for the migrants, said Sen. Chuck Grassley, R-Iowa.
Because poor immigrants rely on government assistance to work, rent apartments, and buy food, clothes, and cars, those huge taxes quickly turn into revenue for Wall Street investors and government officials.
WATCH — Former Obama ICE chief: Harris “owns” parts of “unsustainable” border that remained in place under Biden, regardless of whether she was “the czar”:
Worse yet, Biden’s immigration policies will drive down American productivity and wages, pushing the U.S. further toward a low-wage, low-skill economy. In contrast, China is leading the U.S. with a rival growth economy policy that leverages automation and trained graduates to boost the productivity of Chinese companies.
Grassley’s caveat This is according to a July report by the nonpartisan Congressional Budget Office (CBO).How a surge in immigration will impact the federal budget and the economy“:
The CBO estimates that the impact of the immigration surge over the next decade will be an additional $177 billion in mandatory federal spending, including for programs such as Medicaid, SNAP (originally called the Food Stamp Program), and Social Security, plus an additional $101 billion, primarily due to higher interest rates on debt.
According to the report, Biden’s surge would result in an increase of 8.7 million immigrants between 2021 and 2026. This total does not include the influx of additional legal immigrants and temporary workers.
Grassley noted that taxpayer costs from Biden’s immigration policies would soar as more immigrants would have access to additional programs funded by the budget that are supposed to keep illegal immigrants out.
CBO estimates that about 60 percent of the 8.7 million people who are part of this immigrant surge will be eligible to receive some or all of their federal benefits, such as Social Security, tax credits for health insurance, Medicaid, and nutrition assistance, by 2034. Overall, CBO estimates that: [federal] Discretionary programs would be approximately $200 billion from 2024 to 2034.
State and local taxpayers will have to shell out billions of dollars in additional spending to house, educate, feed and secure immigrants, Grassley said. I got it.“The impact of the immigration surge is putting severe fiscal pressures on state and local governments, whose spending on education, health care and housing is outpacing their revenues,” he said.
CBO Report admit:
State and local governments face additional budgetary burdens from immigration, the amount of which will likely vary by jurisdiction. For example, New York City spent $4.3 billion between July 2022 and March 2024 to accommodate immigrants and comply with existing local and state housing policies. In addition, 25 states have policies that provide in-state college tuition to undocumented students. Depending on how prepared they are to accommodate large numbers of new immigrants, state and local governments may face even greater budget pressures from the immigration surge.
The report said that assuming Biden’s immigration waves stop around 2026, the immigration-inflated economy would bring the government roughly $30 billion a year in tax revenue beyond what it costs to accommodate them.
WATCH — Inslee: Harris will address border issues ‘in her inaugural address’:
But higher tax revenues for governments and corporations will impose different burdens on blue- and white-collar Americans.
The report states that government spending on the federal debt increases because interest rates rise, and that “rising interest rates are a significant contributor to increased federal spending.”
Rising interest rates and increased immigration will also drive up inflation, especially in housing costs.
The CBO also notes that average wages are falling because immigration depresses the wages of Americans who didn’t go to college: “Average wage growth for Americans unaffected by increased immigration will be slightly lower through 2026 than it would be in the absence of the effects of increased immigration. This is because increased immigration slows wage growth for those with 12 years or less of education.”
Most of the media coverage of the report has focused on the numbers favored by pro-immigration lobbyists: the nominal GDP projection for the entire period 2024-2034 would increase by $8.9 trillion due to the immigration surge, and the immigration wave would grow the overall economy by just 2.9 cents on the dollar by 2034.
But media reports miss or ignore the reality that most of the growth is coming not from the more productive, high-tech, high-wage economy, but from the larger consumer economy.
Economic growth will come from increased consumption by immigrants: more housing for them, and more “consumer spending” on gasoline, television programs, clothes, and food like hot dogs and hamburgers. And much of that growth will come from China, whose automated factories will be producing much of the televisions, clothes, furniture, and household goods that taxpayer-supported immigrants buy.
Of the 2.9% economic profit, just one-tenth is business-related investment, including “purchases of intellectual property products such as equipment, structures, and software.”
To make matters worse, because immigrant workers are less educated than Americans, their arrival reduces American productivity per capita, the CBO report acknowledges. Less productivity means more poverty, more taxes, and more government anti-poverty measures.
The report promises that this government-imposed productivity slowdown would be offset by ensuring that one in 33 immigrants goes on to study a STEM subject.
But the 1 in 33 claim ignores the reality that employers are using cheaper immigrants to lay off many of the highly paid American STEM (science, technology, engineering and mathematics) graduates who are filling high-tech, productivity-boosting jobs.
Many American STEM professionals have already been forced into early retirement and non-skilled jobs as employers prioritized cheap, docile visa workers imported from India, China, Russia and South America.
This screenshot is going viral on Twitter.
No one wants to have an honest conversation about the impact of the H-1B visa program. pic.twitter.com/3xaucLTCr0
— US Tech Workers (@USTechWorkers) July 3, 2023
Moreover, the report states, without evidence, that immigration of low-skilled workers would fall to pre-Biden levels by 2028, avoiding further productivity losses.
The reality that immigrants steal productivity has been highlighted by Larry Fink, CEO of the $10 trillion Wall Street investment firm BlackRock, who is an opponent of the US government’s “extractive immigration” strategy of importing immigrants to inflate the country’s consumer economy.
“I would say that the big winners among developed countries are going to be those with declining populations,” BlackRock founder Larry Fink said at a pro-globalization event hosted by the World Economic Forum in Saudi Arabia in April.
That’s something most people never talk about. [a] Decreasing population is a negative factor [economic] Growth. But in my conversations with the leaders of these great developed countries, [such as China, and Japan] No one can enter a country with xenophobic, anti-immigration policies. [so they have] Decreasing population — These countries will see rapid development of technologies such as robotics and AI…
If all these promises transform productivity, Most of us would think so. [emphasis added] Even if the population declines, we will be able to improve the standard of living of the country and individuals.
In contrast, countries with growing populations need to focus on fundamental issues of education and the “rule of law,” said Fink, who oversees $10 trillion worth of investments around the world.
So for countries with growing populations, the answer could be education… [and] In countries without the rule of law or the foundations of education, [economic] The division will become more and more extreme.
Unsurprisingly, Biden’s immigration policies are deeply unpopular: A Gallup poll conducted in June found that 55% of Americans want less immigration, while only 16% want more.
This is just one of three floors of a Walmart where 1000’s of OPT students (most of them fake) from Bentonville, Arkansas work for under $20-30 an hour, taking jobs away from white people.
TCS, COGNOZANT, INFOSYS only hire Indians. How much more proof do you need? pic.twitter.com/PquTPhXWYE— Agram Bagram Boo (@S1S1B1) March 23, 2019
