Immigrants play a vital role in securing our Social Security system’s future

The Trump administration’s immigration policies are morally reprehensible. That should be enough. But for those primarily focused on their pocketbooks, it is imperative to recognize that Trump’s proposals are extremely damaging to our economy and our Social Security system, in particular.

If Trump pushes through his plan to slash immigration, it will cost the economy hundreds of billions of dollars in lost GDP. It will also hit Social Security’s financing, making it much harder to expand, and not cut, our earned benefits.

Immigration strengthens Social Security’s financing. On average, immigrants are younger than other Americans, so they will work and contribute to Social Security for more decades than the nation’s American-born, aging population.

If Trump’s decision to cancel DACA is not reversed, it will cost Social Security an estimated $31.8 billion over the next decade. Moreover, if Trump and hardliners in Congress are successful in slashing immigration in half, Social Security will lose $2.4 trillion over the next 75 years. In contrast, if immigration were doubled, Social Security would gain around $5 trillion over the next 75 years.

Full story: The Hill »

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.