Goldman Sachs CEO David Solomon said that US policymakers need to put greater “focus” on the nation’s ballooning debt and deficit — warning that the federal government’s “ability to spend without constraint is not unlimited.”
“I think the level of debt in the United States [and] the level of spending is something that we need a sharper focus on and more dialogue around than what we’ve seen,” the 62-year-old investment banking chief told Bloomberg Television on Monday.
Solomon said that while it was anticipated that the government would spend to prop up the economy during COVID lockdowns, “we’re a long way out of that pandemic.”
“The spending levels…are continuing at a pace that I think is raising our debt level and creating issues for us down the road,” the Goldman boss said.
