Ray Dalio, founder of Bridgewater, has endorsed a bipartisan House Resolution 981 that seeks to limit the U. S. federal budget deficit to 3% of the gross domestic product (GDP) by 2030 or sooner.
• The current deficit is approximately 6% of GDP.
• The resolution aims to achieve a balanced budget after reaching the 3% target.
• Dalio emphasizes the need for fiscal responsibility despite political challenges, particularly concerns about raising taxes or cutting benefits.
• The measure includes recommendations for enforcement within 180 days and urges Congress to avoid budget gimmicks.
• The national debt is nearing $39 trillion, attributed to spending exceeding revenue and rising healthcare costs.
Congress has not yet acted on this proposal, which could increase investor confidence and reduce risks of a debt crisis.
https://www.thecentersquare.com/national/article_007b5ba3-5983-4981-95a2-415e50af5ae1.html
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