Deportations Fallout Could “Eclipse Great Recession”

The Hill reports:

President-elect Trump’s mass deportation proposals threaten to gut the U.S. economy, shrinking growth and the labor force while juicing inflation, according to a report released Thursday by Democrats in the Congressional Joint Economic Committee (JEC). Deporting at a clip of 1 million people per year could generate a 4.2 percent to 6.8 percent loss in GDP. The U.S. economy shrank by 4.3 percent during the Great Recession, the report’s authors noted.

Beyond the economic fallout of mass deportations, the AIC estimates Trump’s plan would cost upward of $88 billion, about four times the budget of NASA. Yet Trump’s rationale for mass deportations is that the immigrants “are costing us a fortune.” The JEC report contests that logic, citing a Brookings Institution report that found foreign-born people pay on average $1,300 more in annual taxes and over a lifetime pay $237,000 more in taxes than they receive in services from federal, state and local governments.

Read the full article.

Economic fallout from Trump mass deportations could eclipse Great Recession: Report https://t.co/PRaDoCmKrj

— The Hill (@thehill) December 12, 2024