We've gone insane
Thursday, October 3, 2024
I have been refraining from posting politics, but this new study is just absolutely insane.
🔗 Mass Deportation: Devastating Costs to America, Its Budget and Economy
Any kind of mass deportation, like Trump and Vance are proposing, is beyond reckless…on top of the racism and xenophobia.
This new study shows the economic impacts:
- a quick, one-time deportation (which they recognize would be almost impossible), would cost over $300 billion and require between 220-400k new government workers and ICE agents.
- a longer term deportation strategy of say 1 million deportations per year would cost almost ONE TRILLION dollars over 10 years and require over 30k new government employees and agents.
- mass deportation would reduce the U.S. GDP by 4.2 to 6.8 percent (which is the same decline we saw during the great recession of 2007-2009), reduce federal and states taxes collected by over $75 billion annually, as well as reduce contributions to social security and medicare by $28 billion annually.
- the impact it would have on the construction, agriculture, and hospitality industries would lead to an unemployment rate of 8-12% and increase housing prices (due to reduced new home starts) and food costs (either through reduced supply or increased costs to pick and process food.)
Throw this on top of his tariff plan and you have a recipe for the complete desctruction of the US economy.
In contrast, the cost of this could do any of the following:
- build 40k brand new schools
- fund the Head Start program for 80 years
- pay the tuition and expenses for in-state college for almost 9 million students
- build almost 3 million new homes
A single year of the program is:
- nearly twice the annual budget of the National Institutes of Health.
- nearly four times the budget of NASA.
- nearly three times as much as the federal government spends on child nutrition.
- more than the government gives out in the Child Tax Credit program.
- eighteen times more than the entire world spends each year on cancer research.
And people think this is a good economic plan?