Unemployment lines continue to grow as does the American people’s frustration over a government that continues to spend more money than they have. The current administration’s solution is to raise taxes, not cut spending. Times are tight for American families, and as they are looking at ways to make their dollars go further, the federal government should look at ways of keeping American dollars a little closer to home.
While the United States continues to drown in debt, there was some good news south of the border. According to reports, money sent back to Mexico is on the rise. Recently, the Bank of Mexico reported remittances totaling $1.95 billion in August, up 9.32 percent from the same month last year. Apparently, the U.S. job market isn’t tough for everyone.
A Mexican-based financial company is forecasting $22 billion in remittances for 2010 making it Mexico’s second highest revenue maker behind crude oil. Not all of this comes from the 20 million illegal workers. There are people that have come to our country legally to work, but they also send much of their income south of the border. These remittances are an economic drain on America, but Mexico would collapse without them.
Not only are we not recirculating billions of U.S. dollars earned in our country back into our own economy, we are also dolling out taxpayer-funded social services to millions who don’t contribute to the system.
The open-borders crowd continues to insist that those working here illegally contribute more to our economy than the benefits they illegally receive, but $22 billion dollars taken out of our economy says otherwise.