Hedge fund billionaire Ken Griffin blasted the US government over its mounting debt pile, signaling that future generations will face dire consequences if America goes deeper into the hole.
“The surging US public debt is a growing concern that cannot be overlooked,” Griffin, founder and CEO of Citadel, penned in his 2023 year-end investor letter released Monday. “We must stop borrowing at the expense of future generations.”
Historically, increases in the national debt — which is currently hovering at $34.58 trillion — are driven by high unemployment rates, plus the decreased tax revenues and increased government spending on stimulus programs that come with it.
The current unemployment rate of 3.75%, however, is between 3% and 5% — largely considered a reasonable range — and doesn’t justify the government spending that has been taking place, according to Griffin.
“It is irresponsible for…
