Citadel founder and CEO Ken Griffin is putting pressure on the government to get its debt under control, warning that future generations will be forced to foot an inflated bill if the problem isn’t dealt with.
In his 2023 year-end letter to shareholders, the man worth approximately $38 billion stated that 2024 is likely to be a challenging economic year with growth below its potential.
However, this slowing growth will compound a problem that Griffin and a raft of other big-name CEOs are becoming increasingly alarmed by: national debt.
In recent months, JPMorgan Chase CEO Jamie Dimon, Bank of America’s Brian Moynihan, and Fed Chairman Jerome Powell have been calling for an open and honest conversation about how to shrink America’s $34 trillion public debt pile.
And while the aim is never to get that figure to zero, experts are increasingly worried by a specific data point: the nation’s debt to GDP ratio….
