{"id":247234,"date":"2024-07-24T16:13:59","date_gmt":"2024-07-24T16:13:59","guid":{"rendered":"https:\/\/michigandigitalnews.com\/index.php\/2024\/07\/24\/cbo-budgetary-and-gdp-implications-of-the-immigration-surge\/"},"modified":"2025-06-25T17:14:03","modified_gmt":"2025-06-25T17:14:03","slug":"cbo-budgetary-and-gdp-implications-of-the-immigration-surge","status":"publish","type":"post","link":"https:\/\/michigandigitalnews.com\/index.php\/2024\/07\/24\/cbo-budgetary-and-gdp-implications-of-the-immigration-surge\/","title":{"rendered":"CBO: Budgetary and GDP Implications of the Immigration Surge"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div id=\"post-52954\">\n\t\t\t\t<!-- .entry-header --><\/p>\n<div class=\"entry-content\">\n<p>From <a href=\"https:\/\/www.cbo.gov\/publication\/60569\">CBO report<\/a> released yesterday.<\/p>\n<p>The budget deficit would\u2019ve been larger in the absence of the surge:<\/p>\n<p><a href=\"https:\/\/econbrowser.com\/wp-content\/uploads\/2024\/07\/immigration_bus.png\"><img fetchpriority=\"high\" fetchpriority=\"high\" decoding=\"async\" class=\"alignnone size-full wp-image-52955\" src=\"https:\/\/econbrowser.com\/wp-content\/uploads\/2024\/07\/immigration_bus.png\" alt=\"\" width=\"1022\" height=\"547\" srcset=\"https:\/\/econbrowser.com\/wp-content\/uploads\/2024\/07\/immigration_bus.png 1022w, https:\/\/econbrowser.com\/wp-content\/uploads\/2024\/07\/immigration_bus-300x161.png 300w, https:\/\/econbrowser.com\/wp-content\/uploads\/2024\/07\/immigration_bus-768x411.png 768w, https:\/\/econbrowser.com\/wp-content\/uploads\/2024\/07\/immigration_bus-624x334.png 624w\" sizes=\"(max-width: 1022px) 100vw, 1022px\"\/><\/a><\/p>\n<p><em><strong>Figure 1:<\/strong> Baseline Federal budget balance to GDP ratio (blue) and counterfactual without immigration surge (tan), both by fiscal year. 2023 observation is actual. Source: CBO Budget and Economic Outlook update (June), and <a href=\"https:\/\/www.cbo.gov\/publication\/60569\">CBO (July 2024)<\/a>, and author\u2019s calculations.<\/em><\/p>\n<p>Nominal GDP would\u2019ve been smaller as well.<\/p>\n<p><a href=\"https:\/\/econbrowser.com\/wp-content\/uploads\/2024\/07\/60165-fig2_gdp-effects-drivers.png\"><img decoding=\"async\" class=\"alignnone size-full wp-image-52957\" src=\"https:\/\/econbrowser.com\/wp-content\/uploads\/2024\/07\/60165-fig2_gdp-effects-drivers.png\" alt=\"\" width=\"825\" height=\"413\" srcset=\"https:\/\/econbrowser.com\/wp-content\/uploads\/2024\/07\/60165-fig2_gdp-effects-drivers.png 825w, https:\/\/econbrowser.com\/wp-content\/uploads\/2024\/07\/60165-fig2_gdp-effects-drivers-300x150.png 300w, https:\/\/econbrowser.com\/wp-content\/uploads\/2024\/07\/60165-fig2_gdp-effects-drivers-768x384.png 768w, https:\/\/econbrowser.com\/wp-content\/uploads\/2024\/07\/60165-fig2_gdp-effects-drivers-624x312.png 624w\" sizes=\"(max-width: 825px) 100vw, 825px\"\/><\/a><\/p>\n<p><em><strong>Source:<\/strong> <a href=\"https:\/\/www.cbo.gov\/publication\/60569\">CBO (2024)<\/a>.<\/em><\/p>\n<p>In 2023, the boost represented about 1.5% of counterfactual nominal GDP.<\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<\/p><\/div>\n<p><!-- .entry-content --><\/p>\n<footer class=\"entry-meta\">\n\t\t\tThis entry was posted on <a href=\"https:\/\/econbrowser.com\/archives\/2024\/07\/cbo-budgetary-and-gdp-implications-of-the-immigration-surge\" title=\"7:26 am\" rel=\"bookmark\"><time class=\"entry-date\" datetime=\"2024-07-24T07:26:12-07:00\">July 24, 2024<\/time><\/a><span class=\"by-author\"> by <span class=\"author vcard\"><a class=\"url fn n\" href=\"https:\/\/econbrowser.com\/archives\/author\/menzie_chinn\" title=\"View all posts by Menzie Chinn\" rel=\"author\">Menzie Chinn<\/a><\/span><\/span>.\t\t\t\t\t\t\t\t<\/footer>\n<p><!-- .entry-meta -->\n\t<\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/econbrowser.com\/archives\/2024\/07\/cbo-budgetary-and-gdp-implications-of-the-immigration-surge\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] From CBO report released yesterday. The budget deficit would\u2019ve been larger in the absence of the surge: Figure 1: Baseline Federal budget balance to<\/p>\n","protected":false},"author":1,"featured_media":247235,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[155],"tags":[],"_links":{"self":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts\/247234"}],"collection":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/comments?post=247234"}],"version-history":[{"count":0,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts\/247234\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/media\/247235"}],"wp:attachment":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/media?parent=247234"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/categories?post=247234"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/tags?post=247234"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}