{"id":8499,"date":"2015-02-06T15:25:43","date_gmt":"2015-02-06T20:25:43","guid":{"rendered":"http:\/\/live-immigrationreform.pantheonsite.io\/?p=8499"},"modified":"2018-12-28T14:28:16","modified_gmt":"2018-12-28T19:28:16","slug":"obamas-unlawful-amnesty-saves-social-security-for-three-months","status":"publish","type":"post","link":"https:\/\/www.immigrationreform.com\/2015\/02\/06\/obamas-unlawful-amnesty-saves-social-security-for-three-months\/","title":{"rendered":"Obama\u2019s Unlawful Amnesty Saves Social Security \u2013 For Three Months!"},"content":{"rendered":"

\"Social_security_card\"<\/a>The White House claims that the president\u2019s unconstitutional and illegal executive actions on immigration are worth it because it will grow the economy, yet it failed to point out that this growth comes at the expense<\/a> of American workers and taxpayers. On February 4, the Chief Actuary of the Social Security Administration (SSA), Stephen C. Goss, testified<\/a> before the Senate\u2019s Homeland Security Committee on the effect the president\u2019s executive actions will have on Social Security Trust Fund. Goss, in theory a non-political, non-partisan official, told the committee that the Trust Fund would be \u201cimproved slightly by 2014\u2026reducing the current-law actuarial deficit by 0.01 percent of payroll.\u201d Goss also said that the result of \u201cgrowing the economy\u201d through immigration would result in a \u201csmall positive for the next 75 years as a whole\u201d for the Trust Fund.<\/p>\n

Sounds good, right? We shouldn\u2019t worry about the collapse of the republic if Social Security is going to be saved in the process. But the written testimony<\/a> submitted to the committee paints a rather gloomier picture.<\/p>\n

What Goss is basing his projections upon is his assumption that Obama\u2019s executive actions would result in an additional 248,000 workers making payroll contributions by 2024. There would also be fewer illegal aliens due to \u201cenhanced border security\u201d (50,000 per year) and efforts focused \u201cmore heavily on identifying and deporting undocumented residents who represent threats to national security, border security, and public safety\u201d (30,000 per year) for a total reduction of 2.3 million by 2050. Because of an increase of legal workers in the U.S. workforce the GDP would increase by 0.15% ($43 billion) more than it would have without the executive actions. This is three times<\/i> the recent baseline prediction put out by the White House economic advisors. The increase in GDP and, therefore, in contributions is really optimistic, to say the least. For example, the net increase of 248,000 workers by 2024 who will provide an extra $43 billion in GDP means that each additional worker will on average account for $173,387 in economic output. Using the SSA\u2019s calculation, the average U.S. worker currently contributes $120,047 to total GDP.<\/p>\n

In the final analysis, what is the \u201csmall positive\u201d that the executive actions will provide the Trust Fund? Goss projects that the Trust Fund will still go broke in 2033; the executive actions will only result in it becoming insolvent \u201clater in the year 2033 (by about 3 months).\u201d<\/b> The Pew Research Center projected just how many immigrants the U.S. would need to admit to stop our population from aging: We would \u00a0\u00a0need to increase immigration to 15 times<\/a> the current rate! President Obama\u2019s plan will result in millions more relatively younger immigrants settling in the United States, and will extend the life of Social Security by three months. Is that a \u201csmall positive?\u201d<\/p>\n

Additional Resources: Issue Brief: White House Report Confirms President Obama’s Executive Actions Will Harm American Workers, Taxpayers<\/em><\/a>