'Jaw-dropping' fact shows Trump agenda killing own economic dream: ex-adviser
A ‘jaw-dropping” statistic shows that President Donald Trump’s drive to deport hundreds of thousands of immigrants is killing his chance to achieve his economic dreams, experts wrote Tuesday.
Stephen Moore, an economic adviser of Trump’s 2020 campaign, coupled with Ohio University economics professor Richard Vedder to write a warning in the Washington Post.
In it, they wrote that about 10,000 baby boomers are retiring every day in the U.S. — and nowhere near that number of Americans is coming into the workforce.
And that’s posing a great threat to Trump’s goal of achieving 3 percent economic growth.
“To achieve that, … we will need two things: an increasing labor force and higher productivity on the part of working Americans,” the experts wrote.
“ … We will still need smart and willing workers because our country’s declining birth rates deplete the pool of available domestic labor.”
The two writers, who now run the non-profit group Unleash Prosperity, found that almost half of all new civilian workers in the past decade have been immigrants.
“Here is an even more jaw-dropping statistic on the need for expanded visas: Because of our inverted population pyramid, immigrants will contribute virtually all of the net increase in the American workforce over the next two decades,” they wrote.
“Without continued immigration, the U.S. workforce would start shrinking.”
They added, “Many Trump voters worry that immigrants might take jobs from U.S.-born blue-collar workers, and there is no doubt that in some occupations there is a crowding-out effect.
“But economy-wide, there is no evidence that natives lose jobs because of immigrants. There are nearly 8 million job openings in the U.S. today, and that number might increase in the years ahead as retirements accelerate.”