Economists are warning that Trump’s mass deportation plan will kill American jobs and raise prices.
The New York Times reported:
There are logistical, legal, diplomatic and — even though Mr. Trump has said there is “no price tag” he wouldn’t direct the government to pay — fiscal obstacles to expelling millions of people who would rather stay. (According to the American Immigration Council, an advocacy group for immigrants, it would cost $315 billion to arrest, detain, and deport all 13.3 million living in the United States illegally or under a revocable temporary status.)
That’s why forecasting a precise impact is impossible at this point. But if Mr. Trump
accomplishes anything close to what he has pledged, many economists expect higher prices on goods and services and possibly lower employment rates for American workers.
“That gargantuan shock will cost trillions of dollars in economic growth, eliminating hundreds of thousands of jobs held by U.S. natives,” said Michael Clemens, an economics professor at George Mason University who focuses on migration. “It will quickly raise inflation, by reducing the capacity of U.S. firms to supply goods and services faster than it reduces demand.”
There is a recent history to go by when trying to calculate the impact of Trump’s immigration policies.
The last time Trump restricted immigration, the result was a shortage of farming and meat packing workers, to name two sectors that led to higher prices for American consumers. The number of immigrants who have committed crimes is very small in comparison to Trump’s deportation promises, but what is clear to economists is that removing millions of immigrant workers from the US economy will have drastic consequences.
Many voters cast their votes for Trump expecting that he would lower prices. Instead, the Trump agenda is looking like a recession’s best friend.
Trump looks ready to kill jobs and raise prices because he thinks that immigrants have to leave the country.
Buckle up America because things are about to get bumpy.
