In the world of economics and politics, discussions about immigration and labor markets are as spicy as ever. Treasury Secretary Scott Besson didn’t shy away from tackling these topics head-on during a recent appearance on Fox News Sunday. As the country grapples with the implications of mass immigration and the ever-present discussions about tariffs, it seems everyone has an opinion, and this column is no different.
Besson laid out the case for ending illegal immigration as a boost to American workers’ wages. He argued that by stopping the influx of illegal labor, we could redirect a cool $249 billion in wages back to legal residents and citizens. Now, some skeptics might moan about potential price hikes trickling down to consumers. After all, businesses aren’t charities—they’d likely pass those costs somewhere. Yet, Besson doesn’t seem fazed by this notion, breezily suggesting that supply and demand is finally working its magic in favor of the American working class. It’s as if the laws of economics have just had a grand reawakening, much to the surprise of some long-blinkered economists.
However, it’s not all sunshine and roses. There’s the inevitable question of who will fill the jobs allegedly left behind by undocumented workers. Some analysts raise an eyebrow at the idea of Americans eagerly snapping up these positions. The libertarian-leaning KO Institute expresses skepticism, imagining empty workstations and idle factories. Besson, ever the optimist, dismisses this concern. He posits that an army of dropouts, especially disenchanted young men, might be ready to dive back into the workforce for the right price. Apparently, forgotten workers are just a paycheck away from a return to form—an amusingly simple solution if it ever was one.
Tariffs and trade have also taken the spotlight under Besson’s watch. President Trump’s masterpiece, or threat, depending on who you ask, has been to wave imposing tariffs at our trading partners like a maestro conducting an orchestra. While some folks clutch their pearls over potential price hikes for consumers, Besson is having none of it. Criticisms from the likes of Goldman Sachs and JP Morgan are swatted away like pesky flies. Besson dismisses their concerns with a quip about “tariff derangement syndrome,” sarcastically noting that any mention of Trump tariffs sends Democrats into a tizzy.
In the realm of global trade negotiations, it’s almost refreshing to see a bit of theatrical saber-rattling. Besson assures us that President Trump’s hardball tactics have successfully brought European leaders to the negotiation table. The Europeans, apparently more reliant on exports than the US, are left sweating while America flexes its economic muscles. As for Japan, well, patience is the virtue there—waiting to see how their political scene pans out before the next move in this global chess game.
In closing, if one considers the ongoing rumblings between President Trump and Fed Chair Jerome Powell, this administration never lacks excitement. Besson likens the situation to basketball, comparing Trump’s approach to the balmy days of Bobby Knight—complete with metaphoric chair throwing. It’s a playful reminder of the administration’s larger-than-life style. While some folks may fret over the decorum of such spats, Besson finds it all perfectly entertaining, as this political era continues to mix policy with a heavy dose of personality.
