CBO analysis: Amnesty accelerates decline of jobs, wages The Congressional Budget office has issued an analysis revealing the harsh realities associated with passage of the amnesty legislation — S. 744 — now being pushed in the U. S. Senate. As proponents of the bill peddle a study indicating the legislation would boost the economy and trim the deficit, the stark truth is the average American wage would drop, and is unlikely to recover for more than a decade. Sens. Jeff Sessions (R-AL), Mike Lee (R-UT), David Vitter (R-LA), James Inhofe (R-OK), and citizen Tea Party leaders, addressed these dismal facts at a press conference that included Tea Party Patriots co-founder Jenny Beth Martin, Sessions’ predictions regarding the fallout from the passage of amnesty include the reality that ”wages will be reduced” and “unemployment will go up.” He says the immigration bill was written by special interests in “secret” and is being rolled out with “promotional activities.” This 22-page analysis from the nonpartisan Congressional Budget Office projects that, if the Senate bill passes, the influx of newly legalized residents would have the effect of deflating the average wage. Specifically, the estimate showed average wages for the entire labor force “would be 0.1 percent lower in 2023.” But the report goes on to state that wages are projected to continue the downhill spiral until 2025. Raises in the unemployment rate are projected through 2020, accompanied by higher interest rates. Further, enacting the bill would, in CBO’s view, increase the U.S. population by about 10 million people (about 3 percent) in 2023 and by about 16 million people (about 4 percent) in 2033. Those are likely lowball estimates. Speaking of the 1075 page, 24 pound amnesty legislation S. 744, (not counting the 448 pages of amendments), Sessions said it is “not the kind of well-thought out policy that serves the interest” of working-class Americans who are struggling and hoping to have a job with “insurance and retirement benefits,” along with a sufficient wage to support their families. Sessions then praised the Tea Party for representing the “expression of the American people” as opposed to “special interests. It will be the people who need to speak out [against this bill],” he declared. Sen. Sessions has expressed his concerns regarding what he terms, “Significant national security loopholes in the ‘Gang Of Eight’s’ legalization plan.”
Posted on: Fri, 21 Jun 2013 19:18:46 +0000