But if net immigration to the U.S. stays in the red, the primary long-term effects would be fiscal in nature, as a shrinking workforce will do no favors for the country’s national debt. The Deloitte researchers wrote that immigration tends to have a “positive effect on the federal deficit, allowing revenue to rise faster than expenditure.”
Nature, Published online: 25 February 2026; doi:10.1038/s41586-026-10137-y
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