Amid immigration debates, political noise of drowns out economic necessity

The Congressional Budget Office (CBO) projects immigration will deliver a massive $7 trillion boost to the US economy over the next decade. The influx of workers will expand the labor force and stoke consumer demand. This will lift GDP growth by 0.2 percentage points per year on average.

The federal government is poised to reap benefits too. Higher economic growth will generate an extra $1 trillion in tax revenues over the period versus prior forecasts. But there is a trade-off for workers. With more lower-skilled immigrants entering, average wages will rise more slowly than otherwise.

Still, the CBO analysis highlights the potential economic advantages of immigration. More workers means more production capacity and demand. This will counteract an aging population's drag on growth. The extent of gains depends on assumptions about immigrant skills and labor force participation. But the message is clear - judiciously managed, immigration offers significant upside for the US economy