The “The Big Money Show” panel discusses the impact of Trump's agenda on American taxpayers.
Bridgewater Associates founder Ray Dalio said in a recent podcast that the US could be headed for a future “economic heart attack.” No government action.
He told Bloomberg's “Strange Lot” podcast that he wanted to let policymakers know that “there is a solution” that is “workable” to deal with the government's deficit and the imminent debt crisis.
Bridgewater Associates founder Ray Dalio said in a recent podcast that the US could be headed for a future “economic heart attack.” No government action. (Getty Images/Date via Getty Images/Bloomberg)
“You can lower that deficit and go 3% of GDP,” he explained to hosts Joe Weisenthal and Tracy Aloway. “Trump's tax cuts will be made, and the projected deficit will be around 7.5% of GDP, which should be reduced to about 3% of GDP, as this means that debt will not rise compared to revenue, which will greatly improve supply and demand.”
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The US government saw a $1.8 trillion deficit in 2024 alone, attributed to $6.75 trillion in spending, which resulted in $4.92 trillion in revenue, according to the Treasury Department.
Dario told “The Strange Lot” that the US was “very close to that point” in the debt death spiral. Without action, he suggested that the country could see if a “heart attack” would “occur in three years, give a year, or do something like that.”
According to the Treasury, the US national debt is currently at $36.2 trillion. It first surpassed the $35 trillion mark last summer.
New budget forecasts show that they will hit debt records over four years: CBO
“If you don't do that, you're in trouble,” the founder of Bridgewater Associates said of tackling the US deficit and debt.
The US government saw a $1.8 trillion deficit in 2024 alone, attributed to $6.75 trillion in spending, which resulted in $4.92 trillion in revenue, according to the Treasury Department. (Saul Loeb/AFP via Getty Images/Getty Images)
He went to the Bloomberg podcast to discuss the debt cycle and talked about his upcoming book, How Country Go Broke. It is scheduled to be released in early September.
According to Forbes, Dalio, who founded Bridgewater about 50 years ago, has a net worth of $14 billion.
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