The Congressional Budget Office projects an explosive rise in federal debt, despite slight improvements in the past year, as the country faces a fiscal reckoning in the coming decades.

In a much-anticipated update on Wednesday, the Congressional Budget Office, Congress’s nonpartisan group of budget experts, said federal debt held by the public will balloon to 107% of the country’s GDP by 2029, the highest level on record. It will then grow to a whopping 166% by 2053.

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