Donald Trump’s Pick For Top Economic Adviser Is Pro-Immigration, Pro-Outsourcing

Source: breitbart.com
Published: Apr 10, 2017
Author: Penny Starr
Post Date: 2017-04-10 08:48:15 by Stoner
Views: 1988

President Donald Trump has picked an economic advisor who believes in growing the nation’s economy by importing workers and consumers, and by expanding free-trade outsourcing, despite Trump’s “buy American, hire American” campaign promises.

Kevin Hassett is slated to become chairman of the Council of Economic Advisors if he is approved by the Senate’s banking committee. If Hassett is confirmed, that will be a win for the corporatist, business-first faction in Trump’s White House, which fights for influence in the Oval Office against the populist, America-first faction that helped Trump win the election in November.

The Axios news site used three bullet points to describe what the views held by Hassett, formerly an economist at the American Enterprise Institute.

China: Hassett warned in 2010 that bashing China-U.S. trade policy would bring the U.S. back to the downward spiral in the 1930s.

Globalization: “An absolute prerequisite for long-term economic growth is full participation in the global economy and trading system.”

Immigrant workers: [E]conomic growth could expand significantly if immigration in the U.S. were expanded.”

The Financial Times said Hassett’s pick shows “nationalist forces have lost some ground when it comes to the economic advice reaching the president.” The Financial Times, in fact, used Hassett’s words to reveal his stance on issues.

• America Needs more workers

… With lackluster GDP growth threatening to become our new normal, allowing more immigrants to enter for the sake of employment is one of the few policies that might restore our old normal. If the U.S. doubled its total immigration and prioritized bringing in new workers, it could add more than half a percentage point a year to expected GDP growth.

• Understanding the role of the United States in the global economy

Liberalized trade — in broadly multilateral, regional, or bilateral agreements — is a key ingredient in the recipe for prosperity. … An absolute prerequisite for long-term economic growth is full participation in the global economy and trading system.

• Analysis of the economic effects of immigration reform

… This paper explores the economic consequences of expanded immigration on the U.S. economy. It begins by reviewing the immigration practices of our OECD trading partners, and documenting that immigration, as a share of the work force, is well below international norms. The literature identifying the economic impact of immigration is reviewed, suggesting that economic growth could expand significantly if immigration in the U.S. were expanded.

That’s a standard pitch from D.C.-based legislators, agency officials, and political advisors, all who stand to gain from a more powerful national economy and a greater inflow of taxes — no matter how immigration changes the distribution of income or the hurts the prospects of ordinary Americans and their children.

Breitbart News reported last year about a study by the National Academies of Sciences, Engineering, and Medicine:

“Deep in the report, but not in the press release, it shows how each new unskilled immigrant costs state and local taxpayers $1,600 per year. It shows how the annual cost of legal and illegal immigration to state and local taxpayer is at least $57 billion, and that each unskilled immigrant is a net loss to taxpayers for the next 75 years.”

The same study also showed how cheap-labor immigration cuts salaries and shifts wealth towards investors and company owners:

The jargon-filled, much-caveated, 495-page report does show the information needed to measure how legal and illegal immigration transfers $500 billion a year from the wages paid to working-Americans towards companies, Wall Street investors and to new immigrants. But the report does not provide a dollar figure for the ‘immigration tax.’

Immigration also provides companies with a huge new source of consumers, many of whom rely on welfare payments. For example, immigrants now comprise one-in-seven Americans, sharply increasing annual sales by retail stores, groceries, entertainment companies, and much else.

The inflow of cheap unskilled labor also slows U.S. companies’ investment in the labor-saving technology that would actually increase the average wealth of poor and rich Americans by increasing their productivity. That process is making Americans companies vulnerable to foreign companies that use robots and other machines to increase their workers’ productivity, to lower their production costs and increase their marketplace competitiveness.

But immigration makes the federal government more powerful, so the selection of pro-immigration Hassett is being cheered by D.C.- advocates, including his predecessor, Jason Furman, who chaired the CEA under former President Barack Obama.

Kevin Hassett is an excellent pick. He is serious about substance, committed to dialogue, & knows how to navigate DC. I wish him good luck.

— Jason Furman (@jasonfurman) April 7, 2017

Michael Strain, Hassett’s colleague at the AEI, also praised the pick. “Kevin is a fantastic choice for CEA chair,” Strain wrote. “He is a first-class economist. He understands economics research, holds a Ph.D. in economics from the University of Pennsylvania, and has a distinguished record of peer-reviewed academic papers. His deep knowledge of economics and of the economics literature will enable him to give truly expert advice to the president and to others in the Trump administration.”


Well, isn't this just special !! I am sure a large number of Trump supporters will be thrilled with this pick. /sarc

Post Comment   Private Reply

#1: paraclete    To: Stoner (#0)

A lot of markers to pay eh.

paraclete posted on 2017-04-10 09:41:29   Reply   Private Reply


#2: Willie Green    To: Stoner (#0)

With lackluster GDP growth threatening to become our new normal, allowing more immigrants to enter for the sake of employment is one of the few policies that might restore our old normal.

Making America "Great" Again:

Willie Green posted on 2017-04-10 10:12:45   Reply   Private Reply


#3: Stoner    To: paraclete (#1)

" A lot of markers to pay eh. "

So it would appear.

Stoner posted on 2017-04-10 11:15:00   Reply   Private Reply


#4: HomerBohn    To: Stoner (#0)

I found these comments from a 'Cary P' to be interesting:

Done with racking my brains out trying to figure out what the hell happened with Trump. Everyone is speculating. Bottom line is, he's no longer concerned with what's best for the American "CITIZENS". His priority now is taking down Assad. Fact is, I no longer trust him and won't be surprised by anything else he does to hurt America.

I don't share the above sentiments; however, the appointment of this clown and the fascination with destroying Assad and the continued arming of the Syrian terrorists is disturbing. We must realize that the Syrian mess is perhaps as contrived as was the Iraq misadventure.

HomerBohn posted on 2017-04-10 11:19:36   Reply   Private Reply


#5: Stoner    To: HomerBohn (#4)

Correct me if I am wrong, but seems like I read recently that they are still letting Syrians into the USA.

Stoner posted on 2017-04-10 15:28:36   Reply   Private Reply


#6: rlk    To: Stoner (#0)

Donald Trump’s Pick For Top Economic Adviser Is Pro-Immigration, Pro-Outsourcing

Trump has turned his back on the issues and people that elected him. He's still hustling suckers to show people he can still play, "The Art of the Deal."

rlk posted on 2017-04-10 16:03:48   Reply   Private Reply


#7: Stoner    To: rlk (#6)

" Trump has turned his back on the issues and people that elected him. He's still hustling suckers to show people he can still play, "The Art of the Deal." "

Could be. First, I will admit that I voted for him. Scared of Shitlerly getting into the Oval Office.

But, I said at the time that I thought Trump would really disappoint many of his supporters. I am greatly disappointed with this appointment. And, I suspect a great number of his other supporters do not like this appointment either. I think my prediction will be proven correct! I'm a senior citizen, and sadly I suspect I will live to see my country sink beneath the waves! Damn!!!

Stoner posted on 2017-04-10 18:01:09   Reply   Private Reply


#8: rlk    To: Stoner (#7)

First, I will admit that I voted for him. Scared of Shitlerly getting into the Oval Office.

So did I.

rlk posted on 2017-04-10 21:35:26   Reply   Private Reply


#9: buckeroo    To: rlk (#8)

Stoner: First, I will admit that I voted for him. Scared of Shitlerly getting into the Oval Office.

rlk: So did I.

When we vote our elected officers out being "scared" or fear of an elected or ANY unelected officer, America isn't lost; America is doomed.

buckeroo posted on 2017-04-10 22:21:52   Reply   Private Reply


#10: rlk    To: buckeroo (#9)

When we vote our elected officers out being "scared" or fear of an elected or ANY unelected officer, America isn't lost; America is doomed.

No argument from me. That's because there is no quality control within present parties. What is needed is a political party with a board of directors that can deny membership and running in that party.

rlk posted on 2017-04-11 00:40:14   Reply   Private Reply


#11: HomerBohn    To: Stoner (#5)

Correct me if I am wrong, but seems like I read recently that they are still letting Syrians into the USA.

You're not wrong. The 'to-be-impeached' two circuit morons are letting Syrians in by countermanding President Trump's order.

HomerBohn posted on 2017-04-11 05:48:23   Reply   Private Reply


#12: Stoner    To: buckeroo (#9)

" When we vote our elected officers out being "scared" or fear of an elected or ANY unelected officer, America isn't lost; America is doomed. "

Another was to look at it was that that election was a choice between the known evil ( Shitlerly ), and the unknown ( Trump ).

And yes, we probably are doomed.

Stoner posted on 2017-04-11 11:59:02   Reply   Private Reply


#13: buckeroo    To: Stoner (#12)

And yes, we probably are doomed.

Nope. America *IS* doomed. Your perpetual quiescent attitude is proof positive.

buckeroo posted on 2017-04-11 22:21:50   Reply   Private Reply


#14: Stoner    To: buckeroo (#13)

Riiiiiiiiiiiiiiiiiiiiiiight

Stoner posted on 2017-04-12 17:53:43   Reply   Private Reply


#15: buckeroo    To: Stoner (#14)

Trump is a fuckin' loser. Get it?

buckeroo posted on 2017-04-12 23:38:25   Reply   Private Reply