Immigration and the Stimulus
From the New York Times:
“All you need to do is grant visas to two million Indians, Chinese and Koreans,” said Shekhar Gupta, editor of The Indian Express newspaper. “We will buy up all the subprime homes. We will work 18 hours a day to pay for them. We will immediately improve your savings rate — no Indian bank today has more than 2 percent nonperforming loans because not paying your mortgage is considered shameful here. And we will start new companies to create our own jobs and jobs for more Americans.”
Alan Greenspan floated the same idea last summer. Congress, however, seems to have other ideas:
the U.S. Senate unfortunately voted on Feb. 6 to restrict banks and other financial institutions that receive taxpayer bailout money from hiring high-skilled immigrants on temporary work permits known as H-1B visas.
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Sign me up. I’d remove all immigration restrictions for anyone with a high school degree (or equivalent).
Actually, BA – I’d make a counter-proposal: everyone who is unemployed should be immediately stripped of citizenship and deported, thus bringing the unemployment rate down to zero.
I’m a tainted sample since I tend to be in favor of open immigration regardless, but it certainly sounds like a perfectly reasonable solution to me. :-)
I assume you mean Greenspan’s proposal, not Talbot’s? :)
So the solution here is more hair-of-the-dog that bit us? Because this is exactly the policy which has gotten us to this point.
“the U.S. Senate unfortunately voted on Feb. 6 to restrict banks and other financial institutions that receive taxpayer bailout money from hiring high-skilled immigrants on temporary work permits known as H-1B visas.”
That’s because the banks are busy laying off high skilled American workers at the exact same time as they are claiming they need “high skilled immigrants” on so-called “temporary work permits”.
Many people seem to think America is a union in need of breaking.
Yes, I was ignoring Talbot’s as hyperbolic…