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 »