Sen. Sessions: Immigration Bill Increases Unfunded Liabilites $2T for Obamacare, $2.5T for Social Security/Medicare
Sen. Jeff Sessions (R-Ala.) warns that passing the Senate immigration reform bill would have devastating effects on the U.S. job market and fiscal outlook.
"This bill opens up citizenship to recent arrivals and, remarkably, millions who overstayed their visas, Sessions said, adding, "It even opens up citizenship to those who have been deported from the country."
The bill would, thus, increase the unfunded liability of Obamacare by $2 trillion and of Medicare/Social Security by $2.5 trillion:
"Economic concerns abound as well. Once illegal immigrants are granted green cards, they will become eligible for generous welfare and entitlement programs. Because of how these benefits are structured, low-wage illegal immigrants who are legalized will ultimately receive trillions more in benefits than they contribute to these programs.
"Obamacare alone, over the long term, will see its unfunded liability grow by $2 trillion. The unfunded obligation for Medicare and Social Security, together, would likely increase by $2.5 trillion.
Sessions says the bill would also lower both wages and job prospects, since it would introduce 30 million new workers to the job market at a time when 90 Americans are already out of the work force:
"Most importantly, this proposal would economically devastate low-income American citizens and current legal immigrants. It will pull down their wages and reduce their job prospects. Including those legalized, this bill would result in at least 30 million new foreign workers over a 10-year period-more than the entire population of the state of Texas. This at a time when 90 million Americans are outside the labor force and a record number of our citizens are on welfare."