| I was in Washington, DC this week speaking with economic leaders of both parties to go over the mechanics of the serious debt problem, to see if they can agree on it, and to see if there can be agreement on what to do about it. While I’m happy to report that they all appreciated going over the mechanics and agreed with the need to cut the deficit to about 3% of GDP, they are now in the middle of their debt limit and budget fights which need to be resolved before they can undertake discussions about how to hit that target. Interestingly, there was some openness to having people make the 3% pledge and even setting up a bipartisan commission to figure out how to achieve it. Stay tuned. #economics #debt #deficit #principles |
Raymond Thomas Dalio is an American billionaire hedge fund manager and philanthropist who has served as co-chief investment officer of Bridgewater Associates since 1985. He founded Bridgewater in 1975 in New York. Within ten years, it was infused with a US$5 million investment from the World Bank's retirement fund.
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