Billionaire investor Ray Dalio gives the US debt deal a D grade, warning it doesn't solve the main problem
Ray Dalio isn't impressed by the debt-ceiling deal – and says the tentative agreement doesn't address the problem that the heavily indebted US government keeps borrowing more and more money.on Tuesday that President Joe Biden and House Speaker Kevin McCarthy's deal was"the best one could expect, though not good enough."
"Dealing with the problem of adding too much to a pile of debt that is already too large: Grade D," he added."It won't make much difference."while restricting spending in the 2024 and 2025 budgets. If their deal passes through Congress, it promises to stave off a potentially catastrophic default thatBut lawmakers have acted 78 separate times to raise or extend borrowing limits since 1960, according to the"We all know that there is no real debt limit because what is called a debt limit never actually limits the debt," he said in January.," Dalio added.
Dalio was more complimentary of Biden and McCarthy, praising their ability to find common ground on a deal despite opposition from within their own parties.The legendary investor added that the two-year extension of the borrowing limit was a"sensible" policy, because it would prevent a debt-ceiling debate flaring up again during the 2024 election cycle.
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