Bloomberg -Immigration Is Fueling US Economic Growth While Politicians Rage

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While the rising number of immigrants in the US has sowed division among politicians across the country — and stoked angst among a swath of voters — there’s one place where almost everyone seems on the same, upbeat, page: Wall Street.

Last month, the nonpartisan Congressional Budget Office (CBO) calculated that immigration will generate a $7 trillion boost to gross domestic product over the next decade. The agency came to that conclusion after incorporating the recent surge in immigration.

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It’s hard to pin down the exact scale of the inflows of foreign-born people, thanks to many entering without visas or other documentation. But CBO statisticians incorporated data from US Customs and Border Patrol to come up with their higher projected net immigration, according to Morgan Stanley analysis.

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The recent boost from immigration is the result of both more legal immigrants as the US goes through unprecedented visa backlogs and the surge in illegal border crossings. The nation’s 32.5 million immigrant workers now account for roughly one in five US workers, a record-high in government data going back almost two decades.

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