According to government actuaries, the proposed immigration bill which would legalize eleven million illegal immigrants would help put social security back on sound financial footing by collecting social security taxes from eleven million more people. (See the above-linked Reuters article.) Wow, what a great idea!
Why is it that these actuaries don’t also point out that social security would already be on even more sound financial footing if only we hadn’t imported all those immigrants 40 years ago, immigrants who are now drawing benefits from social security?
The point is this: that attempting to avoid the temporary funding problems that a stabilizing population presents by growing the population further only exacerbates the problem in the future – a problem that must be dealt with at some point anyway since never-ending population growth is impossible. If this immigration “reform” passes, then thirty or forty years from now we will have eleven million more people drawing out of social security than we would have otherwise. And our social security funding problem will be that much worse.
But, no, “lazy economics” – the economics of procrastination – always holds sway because that’s more appealing to everyone. Why face up to our problems when we can put them off onto future generations? Let’s import more social security tax-payers. Never mind that they will draw benefits tomorrow. Tomorrow never comes.