This would be more of a disaster than some believe. Prices for just about every consumer good, including housing construction would shoot up. Many small businesses would have to close.
The joy exhibited by xenophobes, religious nuts, social conservatives and racists would be short lived as the economic impact not only slams them as well, but removes one of their raisons d’être. A markedly increased level of blame for the ills of society would be targeted to blacks and gays to fill the void.
There would be a spike in religious fervor as the precipitous economic downturn brings entire enclaves of society to the brink of poverty within 9 to 18 months, and the more exploitative members of society begin to take advantage of a suddenly enlarged worship base.
Justification and rationalization for the possible conscription of members of perceived underclasses into low-waged service and production jobs and forced job camps would become fodder for serious discussion at state and local legislative meetings, as the reality of the negative economic impact begins to affect heretofore financially insulated institutions and individuals, but the reality of the necessity for a logical rethinking of fare wage legislation that would preclude such draconian measures does not.
Another recession would ensue, accompanied by a reshuffling of America’s class stratum, followed by a very slow recovery within which the new underclasses assume roles vacated by the departed immigrants.