Ray Dalio, founder of Bridgewater Associates, warned that America's mounting debt could lead to a financial crisis comparable to a 'heart attack.' He explained that deficit spending is like plaque in arteries, which worsens over time. He emphasized the urgent need for the government to reduce its fiscal deficit from over 6% of GDP to 3% to prevent higher interest rates and destabilization of Treasury markets. Failing to address this, Dalio suggested, would adversely affect all markets and the dollar.
"You're in a high risk of this heart attack, essentially, and now what are you going to do about it?"
"Don't wait for this to happen and then try to make it better," Dalio said.
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