At the Future China Global Forum in Singapore, Bridgewater Associates founder Ray Dalio cautioned that the U.S.’s $37.5 trillion debt could trigger a “crisis.” The billionaire hedge fund manager has previously warned of a potential “debt-induced heart attack” within the near future.
Dalio emphasized that, despite growing concerns over fiscal sustainability, the U.S. is unlikely to implement substantial spending cuts.
Administration Shows Greater Debt Recognition
The 76-year-old billionaire emphasized the U.S. “cannot cut back on its spending for various reasons,” creating a dangerous fiscal trajectory, Fortune reported. He attributed the debt challenge to “human nature” rather than partisan policy failures.
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