‘The Big Money Show’ panel discusses the impact of Trump’s agenda on American taxpayers.
Bridgewater Associates founder Ray Dalio said on a recent podcast that the U.S. could be headed towards a future “economic heart attack” without government action.
He told Bloomberg’s “Odd Lots” podcast that he wanted to inform policymakers that “there’s a solution here” that’s “doable” to address the government deficit and an impending debt crisis.
Bridgewater Associates founder Ray Dalio said on a recent podcast that the U.S. could be headed towards a future “economic heart attack” without government action. (Takaaki Iwabu/Bloomberg via Getty Images / Getty Images)
“You can lower that deficit to go to 3% of GDP,” he explained to the hosts Joe Weisenthal and Tracy Alloway. “Trump’s tax cuts come in, the projected deficit will be about 7.5% of GDP, and you have to cut that to about 3% of GDP because that’ll mean that debts won’t rise relative to incomes, and it will greatly improve the supply and demand.”
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The U.S. government saw a deficit of $1.8 trillion in fiscal 2024 alone stemming from $6.75 trillion in spending while bringing in revenues of $4.92 trillion, per the Treasury Department.
Dalio told “Odd Lots” that the U.S. is “quite near that point” of a debt death spiral. Without action, he suggested the country could see a “heart attack” occur in “three years, give or take a year, something like that.”
America’s national debt currently stands at $36.2 trillion, according to the Treasury Department. It crossed the $35 trillion mark during the summer last year for the first time.
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“If you don’t do it, you’re going to be in trouble,” the Bridgewater Associates founder said of addressing the U.S.’s deficit and debt.
The U.S. government saw a deficit of $1.8 trillion in fiscal 2024 alone stemming from $6.75 trillion in spending while bringing in revenues of $4.92 trillion, per the Treasury Department. (SAUL LOEB/AFP via Getty Images / Getty Images)
He had gone on the Bloomberg podcast to discuss debt cycles and talk about his upcoming book “How Countries Go Broke.” It is slated for release in early September.
Dalio, who founded Bridgewater about 50 years ago, has a net worth of $14 billion, according to Forbes.
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