Why mass deportations are costly and hurt the economy

The following article by Mark Humphery-Jenner was posted on the Conversation website February 27, 2017:

Charles Reed/U.S. Immigration and Customs Enforcement/AP

President Donald Trump has pledged to deport several million undocumented immigrants and recently set a plan in motion targeting those with criminal records (of any kind).

While the ethical issues with mass deportations have received lots of attention, the economics haven’t been explored as comprehensively. And the costs of mass deportations will likely be significant.

These include the impact on economic growth and the labor force, which have received some coverage, but there are several other factors that ought to be considered, such as the debts and dependents left behind by those deported and the costs of giving them the boot.

Undocumented immigrants and debt

To start with undocumented immigrants are able to amass debt in the U.S., and being deported makes it less likely they’ll honor it. This imposes risks on the financial system and on lenders in particular. Continue reading “Why mass deportations are costly and hurt the economy”

Did President Trump save 77,000 coal mining jobs?

The following article by Glenn Kessler was posted on the Washington Post website February 27, 2017:

Carolyn Kaster/AP

“If we had not overturned this rule, we were looking at nearly 70,000 jobs across the country.”
— Unidentified participant in President Trump’s signing of H.J. Resolution 38, eliminating the Stream Protection Rule, Feb. 16, 2017

“I’m really pleased that we repealed a regulation that was going to be very, very damaging to my state. I went to the White House this week to see him sign. The repeal would have cost 77,000 jobs in the coal industry.”
— Sen. Rand Paul (R-Ky.), interview on ABC’s “This Week,” Feb. 19 Continue reading “Did President Trump save 77,000 coal mining jobs?”

Trump’s $5 Trillion Attack On America’s Values And Reputation

The following article by @LOL was posted on the National Memo website February 27, 2017:

Donald Trump wants you terrified.

If you’re Muslim, he wants you to expect to be harassed every time you take a plane, even if you’re Muhammad Ali’s son. If you have family or friends who are documented, he wants you to think they can be snatched away at any time, even when seeking protection from a potential abuser. If you’re a legal immigrant, he wants you to know that if you’re shot and killed in cold blood, the president will not even bother to mourn you with a tweet.

This week, Adam Purinton reportedly shot Srinivas Kuchibhotla and Alok Madasani at a bar in Olathe, Kansas. Kuchibhotla died. Continue reading “Trump’s $5 Trillion Attack On America’s Values And Reputation”

Trump to Ask for Sharp Increases in Military Spending, Officials Say

The following article by Glenn Thrush, Kate Kelly and Maggie Haberman was posted on the New York Times website February 26, 2017:

President Trump with the director of the Office of Management and Budget, Mick Mulvaney, left, and Treasury Secretary Steven Mnuchin, right, at the White House last week. Credit Doug Mills/The New York Times

President Trump will instruct federal agencies on Monday to assemble a budget for the coming fiscal year that includes sharp increases in Defense Department spending and drastic enough cuts to domestic agencies that he can keep his promise to leave Social Security and Medicare alone, according to four senior administration officials.

The budget outline will be the first move in a campaign this week to reset the narrative of Mr. Trump’s turmoil-tossed White House.

A day before delivering a high-stakes address on Tuesday to a joint session of Congress, Mr. Trump will demand a budget with tens of billions of dollars in reductions to the Environmental Protection Agency and State Department, according to four senior administration officials with direct knowledge of the plan. Social safety net programs, aside from the big entitlement programs for retirees, would also be hit hard. Continue reading “Trump to Ask for Sharp Increases in Military Spending, Officials Say”

On Average, Trump’s Early Actions on Economy Cost Middle-Class Households $1,331

The following article by Molly Cain was posted on the Center for American Progress website February 27, 2017:

AP/Susan Walsh — President Donald Trump speaks while visiting the Boeing South Carolina facility in North Charleston, February 2017.

President Donald Trump’s major economic policy actions in his first 39 days form a concerning agenda that puts corporate profits ahead of everyday Americans. After just one month in office, President Trump has already endangered Americans’ retirement savings and access to expanded overtime pay and affordable mortgages. While President Trump has undermined the economic security of the middle class, he has also ensured that the wealthy have benefited by beginning to rollback regulations on the financial and energy industries. A new Center for American Progress Action Fund analysis found that President Trump’s early policy actions set the middle class on a path to lose nearly $189.5 billion over the next decade or, on average, $1,331 per middle-class household. Meanwhile, these same policies will provide Wall Street and Big Industry $106 billion over the same period.

Nearly $189.5 billion cost to the middle class 

Trump’s executive order takes $150 billion over 10 years from middle-class retirees

One of President Trump’s first executive orders was aimed at eliminating the fiduciary rule. Also known as the conflicts of interest rule, the fiduciary rule protects Americans saving for retirement from self-dealing financial advisers who line their own pockets instead of acting in the best interest of their clients. According to a U.S. Department of Labor analysis, before the fiduciary rule, the underperformance associated with conflicts of interest—in the mutual funds segment alone—was expected drain $210 billion from American individual retirement accounts, or IRAs, over the next 10 years. Getting rid of the fiduciary rule might make financial advisers very happy, but it will cost retirees $210 billion over the next 10 years. Continue reading “On Average, Trump’s Early Actions on Economy Cost Middle-Class Households $1,331”

Top 10 Risks and Remedies for Trump’s Conflicts of Interest

The following article by Liz Kennedy and Danielle Root was posted on the Center for American Progress website February 24, 2017:

Overview

Trump’s corrupt conflicts of interest threaten America’s national security, economy, and democracy; citizens, Congress, and the courts have important tools to demand accountability and exercise oversight.

Introduction and summary

President Donald J. Trump’s dangerous, unprecedented, and unconstitutional business conflicts of interest pose grave risks to America’s interests at home and abroad. The full extent of Trump’s indebtedness and foreign entanglements remain unknown while he continues to hide his tax returns. Moreover, because his business and financial ties are largely undetermined there is every reason to fear that Trump will provide favors and special treatment to his business partners and that foreign states and businesses will have too much power over the Trump administration and its decisions. The public will rightly question whether Trump’s actions are made for the benefit of the American people or to further his own financial gains. Continue reading “Top 10 Risks and Remedies for Trump’s Conflicts of Interest”

If Obamacare Exits, Some May Need to Rethink Early Retirement

The following article by Austin Frakt was posted on the New York Times website February 27, 2017:

Oscar Gronner

Here’s another possible consequence of repealing the Affordable Care Act: It would be harder for many people to retire early.

Americans reaching 65 become eligible for Medicare. Before reaching that age, some can get retiree coverage from their former employers. But not very many companies, especially small ones, offer medical insurance to retirees. If early retirees are poor enough, they could turn to Medicaid. To retire early, everybody else would need to turn to the individual health insurance market. Without the subsidies and protections the A.C.A. put in place, health care coverage would be more difficult to obtain, cost consumers more where available, and provide fewer benefits than it does today.

That means that if the A.C.A. is repealed, retiring early would become less feasible for many Americans. Continue reading “If Obamacare Exits, Some May Need to Rethink Early Retirement”

The Three Most Dangerous Trump Lies

The following article was posted on the TrumpAccountable.org website February 27, 2017:

President Trump at a news conference in the East Room of the White House on Feb. 16, 2017.

Donald Trump’s affiliation with the truth throughout his presidential campaign, and his career in business, has been called into question repeatedly. And a recent piece in the Huffington Post claims that Trump’s administration has reached the unenviable “100 lie” mark faster than any previous administration.

Most of the lies that Trump or his representatives have told are exaggerations or overstatements and many, like his repeated claims about inauguration crowd size or how much golf he plays, are not directly relevant to policy or decisions that have an impact on Americans. We could argue that ANY dishonesty from elected officials is important to explore and address – and minor exaggerations or boastful claims have brought down previous politicians. But three of President Trump’s lies are of particular concern because they indicate specific weaknesses or policy issues that are important for the country. Continue reading “The Three Most Dangerous Trump Lies”

Today’s WorldView: An Act of American Terror in Trump’s Heartland

The following article by Ishaan Tharoor was in the February 27, 2017 Washington Post’s Today’s World View e-newsletter:

To most Americans, a shooting that took place last Wednesday will be remembered as just another incident of gun violence in a country where homicides are tragically commonplace and where far too many disturbed loners have ready access to firearms.

To many Indians, though, the murder of Srinivas Kuchibhotla in a suburban Kansas town was the harshest warning yet about the reality of President Trump’s America.

Kuchibhotla, an aviation systems engineer at satellite navigation company Garmin, was having an after-work drink with his friend and colleague Alok Madasani at their regular bar in Olathe, a town 20 miles southwest of Kansas City. The duo, Indian nationals who both received their masters degrees in the United States and were on valid visas, were confronted by 51-year-old Adam Purinton, who started hectoring them with ethnic slurs. Continue reading “Today’s WorldView: An Act of American Terror in Trump’s Heartland”