Fox’s Favorite Economist Has A New Bogus Calculation
Posted in Main Blog (All Posts) on August 7th, 2014 11:08 pm by HL
Fox’s Favorite Economist Has A New Bogus Calculation
Heritage Foundation chief economist Stephen Moore grossly exaggerated the cost of providing unaccompanied minors access to American public education to stoke fears that the costs might hurt local communities.
On the August 7 edition of Fox News’ Your World, host Neil Cavuto invited conservative economist Stephen Moore to discuss the purportedly high cost of allowing roughly 50,000 unaccompanied minors access to public schools around the country. Citing his own calculations, Moore claimed that the cost of educating these immigrant children could reach $1 billion annually, adding that “it’s unfair to put these costs on the backs of local residents “:
Moore’s calculation is problematic for a number of reasons.
According to research from the Heritage Foundation, Moore’s current employer, the cost of educating a single undocumented immigrant child is roughly $12,300 per year. Therefore, the cost of educating the roughly 50,000 recent undocumented minors in the U.S. would actually be roughly $615 million per year, according to Heritage’s estimates.
Furthermore, Moore’s fear mongering over the purported $1 billion price tag ignores the size and scope of the American economy. According to the Bureau of Economic Analysis (BEA), the current dollar value of the American economy in the second quarter of 2014 was $17.3 trillion. In other words, the cost to educate these children would be less than 0.006 percent of the value of the economy as a whole. Hardly cause for alarm.
Moore’s sloppy calculations have gotten him into trouble in the past, as he employs a façade of “economics” to disguise his conservative political agenda.
