Obama’s Amnesty Plan Will Cost Taxpayers $2.6 Trillion (Video)

Stuart Varney went on America’s Newsroom this morning to discuss Barack Obama’s controversial executive amnesty plan.

According to the Heritage Foundation the president’s amnesty plan will cost American taxpayers $2.6 trillion.
Via America’s Newsroom:

The Heritage Foundation reported:

The fiscal consequences of this amnesty will vary depending on the time period analyzed. It is expected that many illegal immigrants who are currently working “off the books” and paying no direct taxes will begin to work “on the books” after receiving amnesty, and therefore tax payments will rise immediately. By contrast, under S. 1348, benefits to these immigrants from Social Security, Medicare, and most means-tested welfare programs (such as Food Stamps, public housing, and Temporary Assistance to Needy Families) will be delayed for many years. In consequence, then, the increase in taxes and fines paid by amnesty recipients may initially exceed slightly the increase in government benefits received. In the long run, however, the opposite will be true. In particular, the cost of retirement benefits for amnesty recipients is likely to be very large. Overall, the net cost to taxpayers of retirement benefits for amnesty recipients is likely to be at least $2.6 trillion.

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