Alright, he didn’t actually say that but he promised crazy rapid growth of 3-percent and experts say the only way to get there is to hire more Mexicans. Rex Nutting:
Donald Trump’s top economic advisers don’t want you to know this, but the only way he can fulfill his promise to get the economy growing at 3% to 4% is to give more jobs to Mexicans.
How is that possible?
It’s a matter of economics, demographics and arithmetic.
Oh. Math. That’s why no one is talking about hiring more Mexicans.
There are only two ways to get the economy to move faster over a sustained period: Hire more workers, or make the workers we have more productive. Those two factors — working harder and working smarter — determine the economy’s potential growth rate, or its speed limit. Potential growth is the sustainable level of output that the economy can supply, and right now it’s below 2%.
So, more jobs, more productivity, and, uh, um, more immigrants?
Unless we can magically get productivity to improve at the fastest rates in the past 50 years, the only way to get to the gross domestic product to grow at 3% on a sustainable basis would be to hire 33 million workers over the next 10 years. The problem? With the working-age population barely growing, the supply of qualified and willing Americans to hire would quickly run out, which means we’d need to open up the borders and let more immigrants in.
This is gonna be interesting.