Surging immigration will reduce deficits by $1 trillion

Congressional Budget Office lowered its expectations for this year 's federal budget deficit.

The CBO now expects the federal government to run a $1.5 trillion deficit, down from the previous forecast.

That reduction is due in part to higher-than-expected economic growth, which the CBO attributes to "more people working" The labor force has grown by 5.2 million people in the past year .