IT’S THE ECONOMY AND IMMIGRATION: STUPID!
By Frosty Wooldridge
February 9, 2009
President Obama announced 640,000 more jobs vanished in January! Housing prices fell like a brick down a mine shaft. Unemployment lines stretched the length of Florida! An unprecedented 28 million Americans depended on food stamps to feed themselves in January 2009!
The U.S. accepted another 180,000 legal and illegal migrants last month into the United States. All of them in need of a job! All of them requiring housing, food, schools, medical, transportation and thousands—prison care!
But what did Obama sign a week ago? He signed an Executive Order on February 4, 2009 published in the Federal Register where he directed $20.3 million for refugee and migration assistance to Gaza. He used money we don’t have to bring hundreds of thousands to the U.S. a country ill prepared to accept them in our current state of bankruptcy. In addition, Congress never weighed in on this – another end run around the Constitution via Executive Order. This refugee bill stands apart from the 19,000 Iraqi refugees arriving into the U.S. from Bush’s bill last year=1,500 a month.
While the media downgraded, dismissed and fled the immigration issue throughout the presidential campaign cycle, historians in 2050 will write about its devastating destruction of the United States of America. It may well be the dagger thrust into America’s heart that bled this civilization to death.
Economist Edwin Rubenstein said, “Mass immigration may well be seen as the major culprit. The financial debacle started with unexpectedly high default rates in sub-prime mortgages—loans designed to increase home ownership among immigrants, minorities and other low income borrowers.”
For the full story, you may visit www.thesocialcontract.com Fall/Winter 2008, page 26-31, “It’s the Economy and Immigration—Stupid!” By Edwin Rubenstein.
Do you remember Fannie Mae and Freddie Mac collapsing? How about $700 billion in taxpayer money to buy up toxic sub-prime mortgages from private banks and financial institutions?
“The fraction of Hispanic and black mortgages in the sub-prime category is two to three times the corresponding figure for whites. Not surprisingly, the four states with the largest concentrations of Hispanic immigrants—California, Florida, Arizona and Nevada—accounted for 60 percent of all defaults in America in 2007.”
How many illegal criminal aliens gained those mortgages replete with zero money down? Estimates number in the millions!
“Right now, the consensus is that the free market failed,” Rubenstein said. “The truth, to which we blind ourselves in an orgy of political correctness, is that public policy in general—and immigration policy in particular—has failed the free market. Years of mass immigration have reduced the government’s ability to fund these enormous sums. That’s because immigrants are poorer, pay less tax and are more likely to receive public benefits.”
“Medicaid has been the fastest-growing social program at $202 billion annually,” Rubenstein said. “Immigration is another driver…most immigrants are poorly educated and lack basic skills for middle class jobs—jobs that include health insurance coverage.”
“Each year state governments spend an estimated $11 billion to $22 billion to provide welfare for immigrants,” Rubenstein said. “Refugees, asylees and all amnestied illegal aliens are exempt from the public charge. Congress decided that the American people will serve as the sponsors for these immigrants and pick up the tab for their support.”
It may be noted that support explodes into the billions of dollars annually!
Earned Income Tax Credit
“The EITC is a refundable tax credit,” Rubenstein said. “That means even a worker who pays no taxes or pays less than the amount of the credit receives a check from the IRS.”
Primary and Secondary Education
“About one in 20 students enrolled in public schools is an immigrant and U.S. born children of immigrants represent an even larger burder—14 percent of the total enrollment,” Rubenstein said. “This means 10 million public school students are immigrants or children of immigrants. This includes 1.1 million illegal immigrant children. At an annual cost of $553 billion, foreign-born students account for a disproportionate share of this outlay.”
Immigrant Prison Population
“In excess of 267,000 criminal aliens inhabit U.S. prisons,” Rubenstein said. “At a cost of $63 per day, taxpayers spend more than $3 million every day to house aliens in our federal prisons. Most are thought to be illegal aliens.”
Do the math dear reader! Rubenstein reported that U.S. taxpayers spend $466 billion annually across 15 federal agencies to cover the costs of illegal criminal aliens working and living within the United States. For the full report, you may visit: National Research Council; “The New Americans: Economic, Demographic and Fiscal Effects of Immigration.”
When Rubenstein added in reduction in native tax payments caused by immigrant labor, the total fiscal costs could top $700 billion annually.
Subscribe to the NewsWithViews Daily News Alerts!
President Obama and Congress knowingly and purposely dump these lunatic costs upon U.S. citizens without any change in policy. In fact, they expect to double legal immigration from 1.2 million to 2.4 million this year in the forthcoming amnesty bill for 20 million illegal criminal aliens. For your information, Obama on the left and McCain on the right—voted for that comprehensive amnesty in June of 2007.
For those jobless 28 million Americans existing on food stamps, you may expect many more millions of Americans to join you in 2009.
Listen to Frosty Wooldridge on Tuesdays and Thursdays as he interviews top national leaders on his radio show “Connecting the Dots” at republicbroadcasting.org at 6:00 PM Mountain Time. Adjust tuning in to your time zone.
© 2009 Frosty Wooldridge - All Rights Reserved