Gate News bot message, according to Bloomberg, Ray Dalio, the founder of the largest hedge fund in the U.S., Bridgewater, wrote in an article on X that unless both parties take joint measures to increase taxes and reduce spending, the “deficit/debt bomb” issue in the U.S. cannot be sustainably resolved.
This billionaire stated that both the Republican and Democratic parties understand the necessity of reducing the deficit by “both sides contributing.” Dalio mentioned that this would improve the supply and demand balance of U.S. debt, thereby lowering interest rates.
“But because politics has become so authoritarian, they feel they cannot take this obviously best path, because if they explore this more balanced approach, their voters and party will kick them out. To me, this is a tragedy,” Dalio said.
According to estimates from the nonpartisan Congressional Budget Office, the Senate version of President Donald Trump’s tax and spending bill—which will face a series of amendment votes on Monday—will increase the U.S. deficit by nearly $3.3 trillion over the next decade.
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