Federal budget analysts said Wednesday that debt held by the U.S. public is on track to hit a record high in the coming years because the federal budget deficits are projected to climb over the next decade. The Congressional Budget Office (CBO) projected the debt held by the public will rise significantly over the next decade, climbing from 99 percent of GDP in 2024 to 116 percent in 2034. The jump would mark a high-water mark, the CBO said, while noting that, absent policy changes, the debt is likely to continue the upward trajectory after 2034. Federal outlays are also...