Gang of Eight Fail: CBO finds their bill will only reduce illegal immigration by 25%

25%? That's just a drop in the bucket. 

Via NRO:

The Congressional Budget Office (CBO) has released its analysis of the economic impact of the Gang of Eight’s immigration-reform proposal. Proponents are likely to emphasize the report’s findings that the bill would reduce the federal deficit by $197 billion over the next decade (although Republicans will likely be asked to explain why this estimate is any more reliable than the CBO’s predictionsregarding Obamacare).

However, the bill’s supporters are certain to downplay other aspects of the CBO report, particularly the section on “Future Unauthorized Residents.” The CBO predicts that some of the bill’s enforcement measures, such as the establishment of an employment-verification system, are likely to reduce the future flow of illegal immigrants, but they’re less optimistic about the bill’s ability to stop individuals from overstaying their temporary work visas, a problem that accounts for at least 40 percent of the existing population of illegal immigrants.

“Other aspects of the bill would probably increase the number of unauthorized residents — in particular, people overstaying their visas issued under the new programs for temporary workers,” CBO writes. And as a result, “the net annual flow of unauthorized residents would decrease by about 25 percent relative to what would occur under current law.”

Keep reading…

Sen. Chuck Schummer claims if the Gang of Eight bill passes,

“Illegal immigration will be a thing of the past,”