12/03/2012 09:59:26 PM EST
Solving America's Demographics Problem Via Immigration
"It's not simply a matter of needing a bigger tax base for Medicare. It's that the U.S. economy needs a certain level of growth to survive. Without it, we won't be to pay down our national debt, at least not without eviscerating the rest of the federal budget, and risking our economy. We need it to fuel stock prices and make ourselves an attractive places for foreign businesses to invest. Ultimately, growth can come two places: better productivity -- which means workers using technologies like the Internet to become more efficient and produce more per hour of work -- or bigger populations. There's no sign of a miracle technology on the horizon that will radically alter U.S. productivity. So a growing population, while we learn to tame entitlement costs, reduce our deficit spending, and hopefully find ways to lessen economic growth's impact on the environment, is our next best bet. That means we have a choice. Either we hope that somehow, with enough government prodding and op-ed page hectoring, American couples will suddenly get baby fever. Or we simply let more people into the country, while we figure out how to address problems such as like entitlement costs." - Jordan Weissmann, Dec. 3, 2012.