AOC Backs Bailout for Big Apple’s Cheap-Labor Economy

The swelling population of 100,000 low-wage illegal migrants welcomed by New York leaders should also be allowed to take the jobs and housing needed by ordinary New Yorkers, according to Democratic populist Rep. Alexandria Ocasio-Cortez (D-NY).

Ocasio-Cortez told a pro-migration, British-born journalist at the New York Times:

[President Joe] Biden administration’s refusal to open up work authorizations or extend temporary protective status [Temporary Protected Status, or TPS] really prevents us from doing what we do best, which is allowing and creating an environment where immigrants from all over the world can create a livelihood here.

Her pro-globalist statement puts her on the same team as an elite group of 120 pro-migration billionaires and millionaires in New York City.

The members of the group, titled Partnership for New York City, run Goldman Sachs, the Blackrock investment firm, the city’s real estate companies, and many other companies that profit from the city’s inflow of cheap and compliant migrants.

More than 60 percent of migrants who have arrived in New York City since the spring of last year remain in taxpayer-funded shelters across the city’s five boroughs. https://t.co/mdXATAAsPu

— Breitbart News (@BreitbartNews) July 26, 2023

“There is a compelling need for expedited processing of asylum applications and work permits for those [migrants] who meet federal eligibility standards,” said the group’s August 28 letter to the White House and Congress. The 120 signatories added:

We write to support the request made by New York Governor [Kathy] Hochul for federal funding for educational, housing, security, and health care services to offset the costs that local and state governments are incurring with limited federal aid.

The elite signatories know that the invited wave of migrants is destabilizing the city’s government by displacing many lower-income Americans and imposing a $12 billion cost over the next three years.

The growing cost threatens many popular spending programs, may trigger a populist upsurge in the city, and may force a tax increase on the city’s elite. A populist surge would also threaten the political power of the city’s elite which has long used cheap-labor migration to weaken the economic clout and political power of the city’s diminishing middle class.

Yet the elites’ letter asks that ordinary American taxpayers bail them out from the political and economic cost of their elite policies.

The bailout request was signed by many wealthy individuals in the finance sector, including Laurence Fink, the chairman and CEO of the BlackRock investment fund, William Ford, the chairman and CEO of General Atlantic, Jane Fraser, the CEO of Citi bank, Jamie Dimon, the chairman and CEO of JPMorgan Chase & Co., and David Solomon, Chairman and CEO of Goldman Sachs.

The bailout request was also signed by top owners or executives at real-estate forms such as Tishman Realty, The Related Companies, Newmark, Buchbinder & Warren Realty Group, MORSE Development, and Vornado Realty Trust

The bailout letter was also signed by Anish Melwani, the chairman and CEO of the luxury goods firms, LVMH Moët Hennessy Louis Vuitton, and Jeff Gennette, the chairman & CEO of Macy’s Inc.

RELATED: Migrants REFUSE to Leave NYC Hotel, Demand Taxpayers Give Them “Permanent Homes”

@datainput via Storyful

AOC’s TPS bailout plan is also backed by Mark Zuckerberg’s FWD.us lobbying group for investors.

The business leaders stand to profit from the wage cuts that are being caused by the arrival of so many hard-working, indebted migrants. The “immigrants are coming to the rescue of desperate employers,” said Axios.com, because the employers could otherwise have to pay higher wages to Americans.

The indebted migrants also crowd into shared apartments as they try to pay off their smuggling debts. Their numbers — and the room-sharing strategy — help to spike rental prices above the level affordable to young Americans or U.S. families with just one or two salaries.

The taxpayer aid for the migrants would also serve as a federal subsidy for the city’s landlords and retail stores

Yet the business leaders whitewashed the pocketbook impact by portraying the labor flood as an “Asylum-Seekers Humanitarian Crisis.”

For example, the district of Jackson Heights — zip code 11372 — is a lower-income section of Ocasio-Cortez’s 14th district of New York State.

The National Low Income Housing Coalition reports that her constituents now need an hourly wage of $49.23 to afford a two-bedroom apartment in her Jackson Heights neighborhood, which lies between Northern Boulevard and 69th Street. That huge income requirement is up from $45.77 in September 2022 and is more than the earnings of 78 percent of Americans.

Ocasio-Cortez supports the billionaire bailout — despite its pocketbook damage to Americans — yet also told the New York Times that “I see myself as having a very great responsibility because at the end of the day, the representation of working-class people in our Congress is still extremely low.”

RELATED: Democrat Mayor Eric Adams Says Sanctuary NYC Didn’t “Ask for” Influx of Migrants

NYC Mayor's Office / YouTube

“‘I think the issue that New Yorkers have is not that there are immigrants coming to New York City, but that immigrants are being prevented from sustaining and supporting themselves,” she said, despite a recent poll showing a plurality of state residents believe migration is a “burden.”

The billionaires’ bailout letter did not mention that federal law requires asylum seekers to wait six months to get a work permit. The delay was set to ensure that it is not profitable for people to illegally enter the United States to take jobs.

Also, many of the illegals in New York have not applied for asylum because they know they are not eligible. Many others have sneaked across the border to evade Biden’s register and release paperwork, and so are trying to avoid detection.

Extraction Migration

The federal government has long operated an unpopular economic policy of Extraction Migration. This colonialism-like policy extracts vast amounts of human resources from needy countries, reduces beneficial trade, and uses the imported workers, renters, and consumers to grow Wall Street and the economy.

The migrant inflow has successfully forced down Americans’ wages and also boosted rents and housing prices. The inflow has also pushed many native-born Americans out of careers in a wide variety of business sectors and contributed to the rising death rate of poor Americans.

The lethal policy also sucks jobs and wealth from heartland states by subsidizing coastal investors with a flood of low-wage workers, high-occupancy renters, and government-aided consumers.

The population inflow also reduces the political clout of native-born Americans, because the population replacement allows elites and the establishment to divorce themselves from the needs and interests of ordinary Americans.

In many speeches, border chief Alejandro Mayorkas says he is building a mass migration system to deliver workers to wealthy employers and investors and “equity” to poor foreigners. The nation’s border laws are subordinate to elite opinion about “the values of our country” Mayorkas claims.

Migration — and especially, labor migration — is unpopular among swing voters. A 54 percent majority of Americans say Biden is allowing a southern border invasion, according to an August 2022 poll commissioned by the left-of-center National Public Radio (NPR). The 54 percent “Invasion” majority included 76 percent of Republicans, 46 percent of independents, and even 40 percent of Democrats.