Billionaire Ray Dalio expresses concerns about US economy: ‘Going to have a debt crisis…’
United States touched record levels in September as it crossed the massive $33 trillion mark. In the past few years, there has been a significant surge in debt levels, particularly following a substantial 50% rise in federal expenditures between 2019 and 2021, as substantiated by information provided by the US Department of the Treasury. Exciting news! Mint is now on WhatsApp Channels.
Subscribe today by clicking the link and stay updated with the latest financial insights! Click here! "We're going to have a debt crisis in this country," news platform Moneycontrol quoted Ray Dalio from the interview. Recently, Moody’s Investors Service also signaled that its confidence is wavering from the US economy. While “debt service payments would not be impacted and a short-lived shutdown would be unlikely to disrupt the economy, it would underscore the weakness of US institutional and governance strength relative to other Aaa-rated sovereigns," analysts led by William Foster wrote in a report Monday as per Bloomberg.
The last-minute legislation does not include provisions that provide support to Ukraine, a matter strongly endorsed by the White House despite facing opposition from an increasing faction of GOP legislators. Simultaneously, it allocates an additional $16 billion towards federal disaster relief, fully meeting President Joe Biden's funding request. This bill secures government funding until 17 November.
“This is good news for the American people," US President Joe Biden said as President Joe Biden signed a temporary funding bill. But, the passage of the bill might create political problems for Speaker Kevin McCarthy as the Republicans are planning to oust him from the position for striking a deal with Democrats. "I do
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