CBO Sees U.S. Debt Hitting 106% of GDP by 2039

U.S. public debt will grow to 106 percent of economic output in 25 years from about 74 percent currently, the Congressional Budget Office said on Tuesday, marking a slight increase from projections made last September.

The non-partisan budget referee agency attributed the changes in its long-term budget outlook based on current tax and spending laws to a slight downward revision in its economic growth projections, partly offset by assumptions of reduced interest rates and health care costs. (Reporting by David Lawder; Editing by Susan Heavey)