Ray Dalio Warns of Looming US Debt Crisis and Potential 'Economic Heart Attack'
The billionaire hedge fund manager predicts severe economic consequences within three years unless the US government reduces its deficit and addresses rising national debt.
- Ray Dalio, founder of Bridgewater Associates, cautions that the US economy could face an 'economic heart attack' within three years due to escalating debt levels.
- The US deficit reached $1.8 trillion in fiscal 2024, with government spending outpacing revenues by nearly $2 trillion, according to the Treasury Department.
- Dalio suggests lowering the deficit to 3% of GDP through a combination of spending cuts and tax adjustments to prevent a worsening debt cycle.
- He compares the current situation to past crises, including the 1970s stagflation and the Great Depression, warning of potential spikes in interest rates and currency depreciation.
- The US national debt now stands at $36.2 trillion, having more than tripled since 2000, raising concerns about long-term economic stability.
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