U.S. Growth Fueled by Immigration: Schlosstein

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July 25 (Bloomberg) -- In today's "This Matters Now," Ralph Schlosstein, CEO at Evercore Partners, talks with Tom Keene about the importance of immigration reform in the United States and the prospects of the bill passing the House and Senate. He speaks on Bloomberg Television's "Bloomberg Surveillance."

Us, particularly to mr.

Schloss stein.

The suspect we are light years from the spirit of ellis island.

What happened here?

Why can't we get together?

Hopefully we can because this is not only a very important economic/justice issue -- we will not support 11 million people, but much more importantly, it is a critical economic issue.

The thing that separates america and has over the last century is our unique demographics and immigration has contributed to growth.

If you look at the developed world, europe, japan, the united states -- we all have roughly the same birth rates which are not enough to keep the population steady much less growing.

We have been fueled, our growth has been fueled by immigration.

I look at the republican jeff flake of arizona trying to find a middle ground with democrats.

Why can't there be more republicans that come over to a middle ground?

We have a challenging situation in the house where the leadership, which is understandable in some respects, has basically said that in order to pass a bill, not only does it have to get a majority of the members of the house but it also has to get a majority of the republican members of the house.

If you got most of the democrats and half of the republicans, that is a standard that is almost 3/4 of the house which is a high standard.

Would you suggest that speaker john boehner will sacrifice his job to get this bill through?

First of all, memories are short in washington.

I am not sure it will cost him his job to do that.

This is a critically important issue but it is also important because it is the issue that washington can demonstrate that the republicans and democrats can work together to finish something.

There was a pol yesl today.

President obama's approval rating was down a little bit to 45%. congress was at 12%. that is worse than wall street.

It is even worse than journalists.

[laughter] ralph schlosstein -- coming

This text has been automatically generated. It may not be 100% accurate.

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