According to a November 29, 20203 published report by The Brookings Institute (“Brookings”), “new census projections show immigration is essential to the growth and vitality of a more diverse US population.” Immigration could hold the key to issues within social security, health care, and basic demographics as America gets older.
The US Census Bureau (“the census”) released its 2023 Projections Series in earlier in November noting that currently, about 1 in 6 Americans is 65 or older, but by 2050 it’ll be nearly 1 in 4. Currently, there are more children than retirees, but in the early 2030s, according to the census projections, that will be turned upside down. Currently, the median age in the United States is about 39; however, by 2050 it’s expected to be nearly 44. As we face a future of decreasing birth rates, an aging population, and increasing death rates, Brookings declares that “immigration levels are crucial in leading to national growth as opposed to decline, and countering what would otherwise be extreme aging.” The bottom line is that foreign born workers could be the solution when it comes to paying taxes that will enable Social Security and Medicare to continue as the programs come dangerously close to being defunct as our population ages.
Indeed “immigrants are America’s superpower”, a fact that should be recognized in the form of immigration reform providing pathways for a strong US workforce. Without immigrants we as a nation risk “decline and stagnation.”