Famed investor Ray Dalio is ringing the alarm on America’s growing mountain of debt.
The Bridgewater Associates founder has been warning about unsustainable deficits, likening the situation to a looming “financial heart attack” in a recent discussion of his new book “How Countries Go Broke: The Big Cycle.”
“It’s like a plaque building up in the arteries,” Dalio said of debt service during an event in New York on Thursday. “You can see interest rates and debt service payments starting to squeeze out other consumption.”
This year, the US is on track to bring in revenues of around $5 trillion and spend $7 trillion, contributing $2 trillion to the national deficit, Dalio said. On top of that, interest payments to service the debt will come out to $1 trillion.
“We have to, in the next, year sell about $12 trillion. We have $1 trillion that we can pay in interest. We have $9 trillion in debt service in terms of…
