Greenspan Says Illegal Immigration Aids U.S. Economy

Alan Greenspan says immigration reform is badly needed and even believes illegal immigrants have helped our econonmy. Against people who still insist they hurt it and steal jobs. - - Donna Poisl

By Nicholas Johnston

April 30 (Bloomberg) -- Former Federal Reserve Chairman Alan Greenspan said that illegal immigration makes a “significant” contribution to U.S. economic growth by providing a flexible workforce.

Greenspan, appearing before a Senate subcommittee today, said illegal immigrants provide a “safety valve” as demand for workers rises and falls.

“There is little doubt that unauthorized, that is, illegal, immigration has made a significant contribution to the growth of our economy,” Greenspan said. An overhaul of U.S. immigration laws is “badly needed” to create legal avenues for skilled and unskilled workers to enter the country legally, he said.

“Our immigration laws must be reformed and brought up to date,” Greenspan told the Senate Judiciary Subcommittee on Immigration, Refugees and Border Security.

Congress is beginning hearings on an overhaul of U.S. immigration policies, a legislative priority of President Barack Obama.
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