Immigration Is Fueling US Economic Growth While Politicians Rage

While the rising number of immigrants in the US has sowed division among politicians across the country — and stoked angst among a swath of voters — there’s one place where almost everyone seems on the same, upbeat, page: Wall Street.

Last month, the nonpartisan Congressional Budget Office (CBO) calculated that immigration will generate a $7 trillion boost to gross domestic product over the next decade. The agency came to that conclusion after incorporating the recent surge in immigration.

The CBO release spurred a flurry of fresh number-crunching among investment bank economists, to account for the boost those new comers ...