In the wake of the 4% Growth Project's recent conference on immigration and economic growth, we are proud to publish a new paper, "The Path Forward for Immigration," by Diana Furchtgott-Roth. A senior fellow at the Manhattan Institute and former chief of staff of President George W. Bush's Council of Economic Advisers, Furchtgott-Roth is the author of Regulating to Disaster: How Green Jobs Policies are Damaging America's Economy. You can download "The Path Forward for Immigration" here.
Robert Asahina has been a newspaper and magazine editor and writer, a book publishing executive and editor, and a data management consultant. He was editor in chief and deputy publisher of Broadway Books, president and publisher of the adult publishing group of Golden Books, and vice president and senior editor of Simon and Schuster; deputy managing editor of The New York Sun and an editor at The New York Times Book Review, Harper's, George, and The Public Interest; and a consultant at Freddie Mac. He is the author of "Just Americans" and of numerous articles and reviews for The Wall Street Journal, Harper's, The New York Times Book Review, and elsewhere.
What Happened to the Issue of Debt?
We should be glad that the annual budget deficit has declined substantially as a percentage of the gross domestic product. The deficit was 2.5 percent of GDP in 2015, as compared to 10 percent in 2009. The GDP comparison matters because it shows whether the deficit is a drag on the economy. A low percentage generally shows it is not. But what we should worry about is that the federal debt continues to go unaddressed. The debt, which is the accumulation of our annual deficits over time, now stands about $19.4 trillion. (You will hear people talk just about the public debt, which is the portion of the debt that is borrowed from the public at large, but does not include money borrowed from the trust funds for Social Security and Medicare. The 19.4 trillion figure includes those government trust fund borrowings.) GOP House Speaker Paul Ryan, R-Wis., continues to warn about the dangers of that large number and the pressures that keep driving it upward. But otherwise the t
Trade Makes America Work
Our manufacturers are producing double what they made in the early 1980s with one-third fewer workers. That is a reflection of the productivity strides we have made through innovation, not a downside of trade.
The Truth Is That We Need Immigrants
We need immigrants so that we can continue to innovate and prosper. It may seem ironic, but the truth is, immigrants made America and will make it again in the future.
The Real Story Behind Mexican Immigration: And What It Means for the U.S. Economy
The United States economy is back to full employment; with the jobless rate well below 5 percent, employers are quick to gripe about difficulties finding qualified workers. Yet immigration from Mexico, historically our main source of foreign labor, is in decline and unlikely to reverse course.