Mainstream News Media Pushes Senate Immigration Bill, CBO: It would help economy
The mainstream news media is out in full force pushing a recently released CBO report as great news proving that the Senate’s immigration reform would be great news for our economy. Go ahead check ABC, CBS, and NBC news to catch the spin, even the White House is joining in. What they fail to stress is the following finding of the report… “CBO said average wages would decline through 2025 as a result of the bill, and that unemployment would go up slightly.”!!!!
OUR REAL UNEMPLOYMENT RATE is already horrible, college graduates are struggling to find jobs after shelling out for an education, and of course more workers, especially lower skilled, will only serve to lower the wages of actual law abiding Americans. Have you noticed how the news media sellouts are all brushing this finding aside so they can skew the news in their favor? How difficult is this too understand? Check out an AP report below to see what I’m talking about.
WASHINGTON (Associated Press) — Sweeping immigration legislation moving toward a vote in the Senate would boost the economy and reduce federal deficits, the Congressional Budget Office said Tuesday, at the same time it would bestow legal status on an estimated 8 million immigrants living in the United States unlawfully. In an assessment that drew cheers from the White House and other backers of the bill, Congress’ scorekeeping agency said the measure would reduce federal red ink by $197 billion across a decade, and $700 billion in the following 10 years as increased taxes paid to the government offset the cost of government benefits for newly legal residents.
The White House quickly issued a statement saying the report was “more proof that bipartisan commonsense immigration reform will be good for economic growth and deficit reduction.”
… Not all the forecast was as favorable, though. CBO said average wages would decline through 2025 as a result of the bill, and that unemployment would go up slightly.
One critic quickly seized on the impact on pay. “It’s going to raise unemployment and push down wages,” Sen. Jeff Sessions, R-Ala., said of the bill. He added: “The impact will be harshest for today’s low-income Americans. Meanwhile, the 21 million Americans who can’t find full-time work will have an ever harder time getting a job and supporting their families.”
Read the Rest @ CBO: Senate Immigration bill would help economy – Yahoo! News.
Finally, The CBO fails to realize one thing about those expected increased tax revenues. Since when does our government not find a way to simply spend those new tax revenues? As if that newly legalized population won’t require increased entitlement spending. Not only that, but the CBO’s report also states, “In particular, the budgetary effects of S. 744 would depend significantly on: the number of people who would choose to work and the income they would earn; the number of additional residents would be eligible for federal benefit programs and the rates at which they would take up benefits; and other factors.”
Finally, as far as the CBO’s accuracy on estimating costs goes, remember it’s Affordable Care Act estimates?… LINK