Ray Dalio Warns of Looming US Debt Crisis: 'It's Urgent'

The US faces a looming debt crisis, according to Ray Dalio, founder of Bridgewater Associates. In a recent CNBC interview, Dalio highlighted the alarmingly high annual deficit and the substantial interest payments consuming a significant portion of government spending. "It's urgent," Dalio stated, emphasizing the severity of the situation. He pointed out that the interest on the debt is approximately 20% of all government spending and 50% of the deficit, creating a significant supply-demand problem. Dalio's analysis suggests that the political climate will likely prevent any meaningful action until after the midterm elections. This delay, he warns, could worsen the economic challenges facing the nation. The interview serves as a stark reminder of the urgent need for a comprehensive plan to address the growing US debt.