How much of our boom has been an immigration boom?

 [[{“value”:”From Scott Sumner: Matt Yglesias directed me to a new CBO report, which confirms that immigration explains the recent GDP boom: In our projections, the deficit is also smaller than it was last year because economic output is greater, partly as a result of more people working. The labor force in 2033 is larger by
The post How much of our boom has been an immigration boom? appeared first on Marginal REVOLUTION.”}]] 

From Scott Sumner:

Matt Yglesias directed me to a new CBO report, which confirms that immigration explains the recent GDP boom:

In our projections, the deficit is also smaller than it was last year because economic output is greater, partly as a result of more people working. The labor force in 2033 is larger by 5.2 million people, mostly because of higher net immigration. As a result of those changes in the labor force, we estimate that, from 2023 to 2034, GDP will be greater by about $7 trillion and revenues will be greater by about $1 trillion than they would have been otherwise. We are continuing to assess the implications of immigration for revenues and spending.

And Scott compares Abu Dhabi and Orange County, CA.

The post How much of our boom has been an immigration boom? appeared first on Marginal REVOLUTION.

 Current Affairs, Economics 


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