By the end of this year, the ratio of federal debt to the United States’ gross domestic product will reach 78 percent, according to the CBO, the highest ratio since 1950.

The debt is projected to grow to 96 percent of GDP by 2028 before eventually surpassing the historical high of 106 percent it reached in 1946…

The 1946 high was prompted by a spending push to fund World War II, and other spikes in the debt have been driven by economic downturns. But the current bump comes amid a relatively healthy economy, suggesting a structural gap between how much the country collects in taxes and how much it spends.