US Debt Nears WW2-Era Levels, Projected to Reach 118% of GDP by 2035

WASHINGTON (Sputnik) - The United States' debt held by the public is projected to rise to 118% of the GDP in 2035, while budget deficit is projected to increase to $1.9 trillion, or 6.2% of the GDP, already this year amid ample spending, the Congressional Budget Office (CBO) said on Friday.