CBO: Budgetary And GDP Implications Of The Immigration Surge
From CBO report released yesterday.
The budget deficit would’ve been larger in the absence of the surge:
(Click on image to enlarge)
Figure 1: Baseline Federal budget balance to GDP ratio (blue) and counterfactual without immigration surge (tan), both by fiscal year. The 2023 observation is actual. Source: CBO Budget and Economic Outlook update (June), and CBO (July 2024), and author’s calculations.
Nominal GDP would’ve been smaller as well.
(Click on image to enlarge)
Source: CBO (2024).
In 2023, the boost represented about 1.5% of counterfactual nominal GDP.
More By This Author:
Instantaneous Core Inflation
Alternative Business Cycle Indicators - Monday, July 22
Can One Have a Recession Start When Real Household Wealth Is Rising?
How did you like this article? Let us know so we can better customize your reading experience.
Comments
No Thumbs up yet!
