Well-timed CBO report says U.S. economy will be about $7 trillion larger due to immigration surge

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...so we can add trillions more to our economy if republicans don't get their way and restrict immigration further?

Jeff Stein @JStein_WaPo
Due largely to an unexpected surge in immigration, the U.S. economy will be about $7 trillion larger - & federal revenues about $1T bigger - the nonpartisan Congressional Budget Office said Wednesday

That impact is over 10 years, to be clear. It does not take into account any legislation that Congress may or may not approve

CBO Director Phillip Swagel: "More workers means more output, and that in turn leads to additional tax revenue"

CBO statement: https://www.cbo.gov/publication/59933


Julián Castro @JulianCastro
The Congressional Budget Office says our economy will be $7 trillion bigger—and federal revenues $1 trillion larger—over 10 years mostly due to immigrants working, in a 3.7% unemployment rate environment. Democrats, how about talking about this? Americans need to know.



Paul Krugman @paulkrugman
The SF Fed just released a paper titled "Why is prime-age labor force participation so high?"

Among other things it confirms what (with help from Arin Dube) I said in my newsletter: growth in immigrant employment hasn't crowded out native-born workers.

I get a lot of comments about how low overall LFP is (62.5). But it's not because we're lazy, or because immigrants have taken the jobs. It's because we're old.




Feb 6, 'Trump, Immigration and the Lump of Labor Fallacy'- Paul Krugman
https://www.nytimes.com/2024/02/06/opinion/trump-immigration-lump-of-labor.html

Feb. 4, 'Immigrants Make America Stronger and Richer' - Paul Krugman
https://www.nytimes.com/2024/02/05/opinion/immigration-republicans-economy.html