The U.S. budget office just flagged something worth paying attention to: immigration policies and an aging population are becoming headwinds for economic growth projections. Here's what's happening on the ground.

Strict immigration measures mean fewer workers entering the labor force. At the same time, an older population shifts the balance—more people drawing benefits, fewer people in their prime earning and spending years. It's a classic demographic squeeze.

For policymakers, it's a tough calculus. Tighter immigration controls address one set of concerns, but they come with economic trade-offs. Labor shortages in key sectors, slower consumer spending, reduced tax revenue growth. The numbers don't lie when you run the scenarios.

Why does this matter beyond U.S. economics? Because macro trends like these ripple through global markets. When growth forecasts decline, it shapes interest rates, inflation expectations, and how capital flows across asset classes. For those tracking crypto market cycles, understanding the broader economic backdrop matters—bull runs and bear markets rarely exist in a vacuum.