02/19/2003 - Greenspan: Immigration Spurs Economic Growth
February 19, 2003 – In his semi-annual monetary policy report to Congress on February 11, 2003, Federal Reserve Chairman Alan Greenspan implied that a major increase in immigration could be a solution to both projected long-term deficits and the current economic lull. Specifically, Greenspan stated, "…short of a major increase in immigration, economic growth cannot be safely counted upon to eliminate deficits and the difficult choices that will be required to restore fiscal discipline."
February 19, 2003 – In his semi-annual monetary policy report to Congress on February 11, 2003, Federal Reserve Chairman Alan Greenspan implied that a major increase in immigration could be a solution to both projected long-term deficits and the current economic lull. Specifically, Greenspan stated, "…short of a major increase in immigration, economic growth cannot be safely counted upon to eliminate deficits and the difficult choices that will be required to restore fiscal discipline."