If Only Congress Would Listen to the CBO on Immigration
While Democrats and Republicans argue over border policy, they are ignoring the benefits of a more orderly system for US economic growth.
Not the ideal border policy.
Photographer: Sergio Flores/Bloomberg
Last week, smack in the middle of a series of congressional meltdowns over border security, the Congressional Budget Office dropped the latest edition of its 10-year budget and economic forecast. It’s the kind of report that ought to — but won’t — shake up the immigration debate on Capitol Hill.
According to the latest numbers, the next 10 years of federal budget deficits will amount to about $20 trillion, with the debt-to-GDP ratio at 114% by 2033. That sounds scary. But it’s actually an improvement from last year’s report: This year’s projection sees the US gross domestic product as $7 trillion higher over the next decade than last year’s, with $1 trillion in additional revenue. More revenue and a larger economy equals a lower debt-to-GDP ratio that, while not necessarily out of the danger zone, is at least closer to sustainability.