Impact of Migration on the Economy
President Biden believes that immigrants are what make the U.S. economy strong. However, his pro-migration policy has negative impacts on inflation, housing prices, and interest rates. This approach has caused a decline in productivity and wages for American workers.
Key Points
- Migration boosts the economy but also has negative consequences like inflation and reduced productivity.
- Pro-migration policies can lead to a decline in wages for American workers and hinder automation and productivity growth.
Pros
- Immigrants contribute to the nation's economy and tax revenues as consumers, renters, workers, and clients.
Cons
- Biden's rush of migrants can lead to inflation, increased housing prices, and higher interest rates.
- The influx of migrants may hinder CEOs' willingness to invest in automation and productivity, impacting American workers' wages.