President Barack Obama’s deputies have drafted a new quasi-amnesty memo that would allow employers to quickly and cheaply get work-permits to hire millions of lower-wage foreign graduates.
If approved by Obama, roughly 3 million guest-workers, students and migrants — including perhaps 1.5 million college-grads — would be immediately eligible for the work-permits, at an up-front cost to employers of only $580 per foreign hire.
But the work-permit handout would have a huge economic impact on Americans, especially college graduates.
Each year, roughly 800,000 Americans graduate from college with skilled degrees in medicine, business, science, engineering and computers. Many cannot find jobs in their fields, and the new plan would force them to also compete for jobs against a huge number of foreign graduates who would take lower-wage jobs in the hope of winning U.S. citizenship and its myriad taxpayer benefits.
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