Recently, Robert Samuelson wrote a column for the Washington Post in which he discussed different projections for future economic growth. On the one hand, he noted that a recent White House economic report includes a projection of 3 percent economic growth per year for years to come.
On the other hand, most economists project slower growth. In part, this is due to the slow growth projected for the U.S. labor force. As Samuelson illustrates, the Congressional Budget Office is projecting labor force growth of 0.5 percent annually over the next 10 years. Productivity growth is projected to be 1.3 percent annually. Adding these together gets economic growth to 1.8 percent per year—more than one percent short of the White House’s rosy projections.
What Samuelson does not talk about in his column is immigration.