Sunday, May 12, 2013

Boomers need immigrants

Young immigrant workers putting money into Social Security will keep it going for many years to come.   - - Donna Poisl

By The Times editorial board

The Senate Judiciary Committee took up comprehensive immigration reform late last week. And, as expected, opponents are already rushing to derail it, arguing that any bill that legalizes the vast majority of undocumented immigrants in the United States will cost billions of dollars and place an unfair burden on taxpayers.

Such arguments are merely scare tactics. There's no doubt that granting citizenship to millions of immigrants 13 years from now, as the Senate bill would, will carry a cost, but how much is unclear. Without it, though, the U.S. will face serious problems. In fact, demographers such as Dowell Myers of USC's Price School of Public Policy have repeatedly warned that the country is on the verge of an epic transition as baby boomers retire en masse and birthrates decline. A 2013 report by Myers suggests that in Southern California alone, "boomers are beginning to retire from the most productive period of their lives, creating enormous replacement needs in the workforce." In other words, the U.S. needs immigrants to help cover the retirement costs of older Americans and to fuel economic growth.
Click on the HEADLINE above to read the rest of this story! This is only a small part of it.

No comments: