U.S. President Barack Obama delivers remarks at the House Democratic Issues Conference in Pennsylvania, January 29, 2015. REUTERS/Larry Downing

WASHINGTON (Reuters) - President Barack Obama will propose a $4 trillion (2.7 trillion pounds) budget for fiscal year 2016 on Monday that foresees a $474 billion deficit, which would represent a manageable 2.5 percent of U.S. Gross Domestic Product, the New York Times reported on Sunday.

The budget envisions a $687 billion deficit by 2025, it said, while debt would grow every year and remain about 75 percent of GDP.

The budget also includes $105 million for “trade adjustment assistance” to help workers who have been affected by free trade pacts, it said.





(Reporting by Jeff Mason; Editing by Bill Trott)