John Williams of Shadow Government Statistics
is a name to conjure with
in the investment industry, and I've always regretted that I didn't get to write about him before my 40-year career as a financial journalist was brought to an untimely end
. He's now produced a major analysis
of the net costs of legal immigration commissioned by our old friends
at Carrying Capacity Network
. Sample: Unsustainable 1.5 Million Annual Legal-Immigrant Influx Costs U.S. Taxpayers $330 Billion per Year.
This is important because the fiscal costs of current policy, reflecting Nobel economics laureate Milton Friedman's celebrated observation that “It's just obvious you can't have free immigration and a welfare state,” has been almost completely repressed in public debate. These are legal immigrants, remember.
We hope to post a more detailed discussion soon.