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The decadence of a Society

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Here is the opinion of one of the most powerful men in the US earlier this year...

LINK

Greenspan - ?Major? Increase in Immigration Could Aid Economy

El Norte Digest

New California Media, News Digest,

Compiled and Edited by Marcelo Ballve, Feb 20, 2003

 

After U.S. Federal Reserve Chairman Allan Greenspan appeared before the Congress, most reports highlighted his blunt criticism of the administration?s plans for new tax cuts. But publications focusing on immigration are highlighting his unexpected statements implying that more immigration could fuel economic growth and help close the budget deficit.

 

The immigration issues portal ILW.com, in its Immigration Daily newsletter, on Feb. 12 quoted from Greenspan?s semiannual report on monetary policy, which criticized White House plans for almost $700 billion in tax cuts. Greenspan said the policy was risky, and that any growth it spurred may not close the budget deficit.

 

"Short of a major increase in immigration, economic growth cannot be safely counted upon to eliminate deficits and the difficult choices that will be required to restore fiscal discipline,? said Greenspan?s report, submitted Feb. 11.

 

Immigration Daily wrote that Greenspan?s statements are ?common sense, but will surely startle some.? According to the newsletter, many on both sides of the immigration debate still erroneously view immigrants ?as liabilities instead of assets.?

 

In an interview with El Norte Digest, Randall Caudle, chair of the Santa Clara Valley Chapter of the American Immigration Lawyers Association, agreed that immigrants energize the economy, and said he believed that economic pressure could eventually lead the Republican-controlled administration and Congress into some kind of easing on restrictions, such as an expanded guest worker program for Mexican workers or a limited amnesty for illegal immigrants.

ugh, dont get me started on the tax cuts. I learned about how fiscal policy was outdated even during the 80's and we are using it in 2003. GRRRR.

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