|
New Stimulus Projections -- At most 3.6 million jobs, while feds import 3.2 million new foreign workers
By Roy Beck
February 24, 2009
Two analyses of the just-enacted bill suggest that foreign workers will benefit from either 90% of increased employment due to the nearly-trillion-dollar Stimulus bill.
Or foreign workers will benefit from ALL of the extra employment.
Sound incredible?
Read on ....
1.2 or 2.5 or 3.6 MILLION MORE JOBS AT END OF 2010
A private firm, IHS Global Insight, has analyzed the package and stated the results in a webcast briefing. Instead of looking at jobs directly created by the Stimulus bill, IHS estimated how many fewer jobs will be lost in the economy overall.
With or without the Stimulus, the United States will lose a lot more jobs this year, IHS said. But WITH the Stimulus, 2.5 million more people will have jobs than without the stimulus at the end of 2010, it concluded.
That is far short of the 4 million goal that Pres. Obama had set.
It falls in the middle of projections by the Congressional Budget Office which estimates that the Stimulus bill may result in as few as 1.2 million more jobs in the economy at the end of 2010. But it also says there could be as many as 3.6 million more.
3.2 MILLION MORE FOREIGN WORKERS BY END OF 2010
Unfortunately, I am not aware of a single mainstream news outlet that has juxtaposed estimates for jobs created/protected with the anticipated number of new foreign workers that the feds plan to import over the next two years.
The mainstream media's refusal to talk about this subject is one of the truly great failings of the news media today.
The dirty open secret that the media continue to coverup is that the feds currently plan to bring in about the same number of new foreign workers as the Stimulus is going to create/protect jobs.
Based on the most recent government data and on the lack of any reported change in immigration policies, we can expect over the next two years that the feds will import:
* 1,490,000 working-age (20-64) permanent immigrants
* 1,826,000 foreign workers on temporary visas
Thus, the nearly trillion dollars of Stimulus money (borrowed from our children and grandchildren) will be used so that the U.S. economy will have between 1.2 million and 3.6 million more jobs at the end of 2010.
But the feds will have brought into the country over that time an extra 3.3 million foreign workers to compete for those jobs.
Looks me like we could have saved the trillion dollars, suspended immigration and ended up with the same level of unemployment.
Does anybody in government or the news media care?
---
ROY BECK is Founder & CEO of NumbersUSA
--------------------
Note -- The opinions expressed in this column are those of the author and do not necessarily reflect the opinions, views, and/or philosophy of GOPUSA.
++ Discuss this topic in The Forum
Current rating:  4.9 out of 5.0 (15 total votes)
| 
