A recent report by the U.S. Congressional Budget Office predicted significant economic growth in the United States over the next decade, estimating an increase of $7 trillion, driven primarily by population growth due to immigration to the country.

According to the analysis, the continuous migratory flow that began in 2022 is projected to extend until at least 2026, thus exerting a positive effect on national economic growth.

The Bureau’s forecasts have been adjusted, with the expectation that by 2033, the U.S. labor market will have 5.2 million more people than anticipated in previous reports.

As a result, US Gross Domestic Product (GDP) is expected to increase by $7 trillion between 2023 and 2034, with a further $1 trillion increase in government revenues.

The report argues that immigration will contribute an average of 0.2 percentage points to the country’s GDP.

However, despite these positive projections, the report also points to growth in the federal debt, reaching an all-time high of 116 % in 2034 and forecasting a continued increase to 172 % in 2054.

In addition, the government deficit is expected to increase from $ 1.6 trillion in 2024 to $ 2.6 trillion in 2034.

The release of this report coincides with a heated debate in Congress between Democrats and Republicans over measures to impose immigration restrictions at the border.

While President Joe Biden’s administration has proposed limiting asylum applications on the southern border in exchange for approving new military aid funds for Ukraine, the Republican wing closest to former President Donald Trump is reluctant to give in to these proposals, especially in an election year, even though some of the measures have been called for years by conservatives.

K. Tovar

Source: Descifrado

(Reference image source: Unsplash+)

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German Chancellor Olaf Scholz said today that he sees no danger of riots like those taking place in France in Germany.

“There are no indications of it,” Scholz said in the traditional summer interview on public broadcaster ARD.

“The parties that promote bad humor had predicted a winter of fury and an autumn of fury. But it was not like that,” added the chancellor. According to Scholz, a lot was done to cushion high energy prices and ensure the security of energy supply.

The chancellor was sympathetic to the cancellation of French President Emmanuel Macron’s state visit to Germany, which was scheduled to take place today and was to last until Tuesday. “I would have done the same. And so we wish him a good hand in managing what, after all, is no small challenge.” He added that he does not expect France to become unstable, even if the images were very shocking.

“It cannot be that acts of violence are committed. And at the same time, of course, we must do everything possible so that the cohesion in our societies works well. And as you know, that is one of my main concerns also for politics in this country,” added the Social Democratic chancellor.

France has been shaken by massive riots for days since last Tuesday a 17-year-old boy was killed by a police shot during a traffic control. Since then looting, arson and violence between police and agitators have been repeated. Hundreds of people were arrested every night.

Source: dpa

(Reference image source: Christoph Soeder, dpa)

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The German labor market, already affected by a shortage of qualified labor, will lose some seven million workers by 2035 if corrective measures are not taken, according to a study released today.

A study by the Nuremberg Employment Research Institute (IAB) published today points out that the main cause of this phenomenon is that many workers from the so-called “baby boomers” generation (those born between 1946 and 1964) will soon retire.

The problem could, however, be resolved, or at least mitigated, according to the IAB, if labor force participation rates were increased in the active population. For example, among older people and immigrant women and selective immigration will be successfully facilitated.

“By 2035, Germany will lose seven million workers due to demographic change and therefore one seventh of the labor market,” says IAB researcher Enzo Weber, one of the four authors of the study.

“But the contraction can be stopped if all the levers are put in place to keep older people in their jobs, strengthen the professional development of women, attract and integrate immigrants, further reduce unemployment and increase the rate of birth,” emphasizes Weber.

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Source: dpa

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