America's Economic Renewal

This is an interesting Op-Ed piece in the NY Times today entitled “Refuting the Cynics” on page A27. It talks about how immigrants are helping the American economy. It discusses how immigrants are generally young and how their hardwork (and taxes) will allow us to partially offset the cost of the baby bommer generation when it gets old. An interesting paragraph states “Working off U.N. and U.S. census data, Bill Frey, the indispensable University of Michigan demographer, projects that in the year 2050 the median age in the United States will be 35. The median age in Europe will be 52.” This means America will still be relatively youthful and energetic in 2050. In contrast, Europe is likely to suffering from a shrinking workforce and growing medical & retirement costs.

Here is a link to this article.

As a son of immigrants and a husband of an immigrant, I personally believe that immigration is one of America’s greatest strengths.