Amnesty for illegals would bankrupt Social Security system, says analyst
Amnesty for illegals would bankrupt Social Security system, says analyst
Chad Groening
OneNewsNow.com
May 30, 2007
A domestic policy scholar says the U.S. Social Security system will surely go bankrupt if President Bush and members of Congress who are pushing amnesty for millions of illegal immigrants have their way.
Robert Rector says the so-called "comprehensive immigration reform plan" making its way through Congress would add millions of additional workers to the Social Security rolls. Rector, a senior research fellow in domestic policy at the Heritage Foundation in Washington, DC, says with $18,000 in annual Social Security benefits over a 20-year retirement period, each new amnestied worker would receive over $300,000 in retirement benefits.
According to Rector, if an estimated nine million adults join the system, that would result in a total cost of $2.5 trillion for all the new beneficiaries. "And that cost is going to come crashing into the Social Security System at exactly the time that Social Security is already going bankrupt," he emphasizes.
Social Security, he asserts, would crumble under those staggering costs. "It's just an absolutely disastrous deal," he says in reference to the pending legislation. "It's ruinous to the taxpayer. It will bankrupt Social Security, not make it better."
The Heritage Foundation spokesman contends the president and members of Congress really do not care because those costs will not hit for another 10 to 15 years.
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It's going to be even without them. I know there will be nothing by the time I'm old enough to apply. Who cares if it's a few years earlier.
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