{"id":188594,"date":"2023-09-29T09:10:07","date_gmt":"2023-09-29T13:10:07","guid":{"rendered":"http:\/\/stateofthenation.co\/?p=188594"},"modified":"2023-09-29T09:10:07","modified_gmt":"2023-09-29T13:10:07","slug":"american-billionaire-issues-dire-warning-for-us-economy","status":"publish","type":"post","link":"https:\/\/stateofthenation.co\/?p=188594","title":{"rendered":"

American Billionaire Issues Dire Warning For US Economy<\/h1>"},"content":{"rendered":"

The country\u2019s growth is at risk of falling to zero, Ray Dalio claims<\/h2>\n

RT.com<\/p>\n

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\"Billionaire<\/picture><\/div>\n
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\u00a9\u00a0<\/span>Getty Images \/\u00a0<\/span>Douglas Rissing<\/span><\/div>\n<\/div>\n<\/div>\n
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A US debt crisis is looming as the American economy is facing a \u201crisky\u201d fiscal situation, according to the founder of the world\u2019s largest hedge fund, Bridgewater Associates, Ray Dalio.<\/p>\n

Dalio\u2019s warning comes as the country\u2019s national debt topped $33 trillion this month. US lawmakers are currently negotiating a spending bill before the October 1 deadline.<\/p>\n

\u201cWe\u2019re going to have a debt crisis in this country,\u201d<\/em>\u00a0Dalio told CNBC in an interview that aired Thursday.\u00a0\u201cHow fast it transpires, I think, is going to be a function of that supply-demand issue, so I\u2019m watching that very closely.\u201d<\/em><\/p>\n

According to the US Treasury Department, the country\u2019s debt levels have skyrocketed in recent years, particularly after a roughly 50% jump in federal spending between fiscal 2019 and fiscal 2021. Investors have been raising concerns that interest rates may continue rising as the situation worsens.<\/p>\n

Dalio has cautioned there could be more headwinds hitting the economy than just high debt levels, with the risk that growth may fall to zero.\u00a0\u201cI think you\u2019re going to get a meaningful slowing of the economy,\u201d<\/em>\u00a0the billionaire warned.<\/p>\n

The US averted a historic default earlier this year after President Joe Biden signed a bill suspending Washington\u2019s $31.4 trillion debt limit just two days before the deadline in June. The debt ceiling was lifted through January 1, 2025.<\/p>\n

READ MORE:\u00a0US national debt passes new landmark<\/a><\/div>\n

However, the fact that the US was close to failing on its massive debt could hurt the country\u2019s fiscal reputation, analysts have signaled.<\/p>\n

In August, rating agency Fitch slashed the USA\u2019s credit rating, citing fiscal deterioration over the next three years and repeated debt-ceiling talks. Earlier this week, rating agency Moody\u2019s warned that a possible government shutdown on October 1 would put pressure on the country\u2019s credit rating.<\/p>\n

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\nhttps:\/\/www.rt.com\/business\/583758-ray-dalio-us-economy-crisis\/<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The country\u2019s growth is at risk of falling to zero, Ray Dalio claims<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-188594","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/stateofthenation.co\/index.php?rest_route=\/wp\/v2\/posts\/188594","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/stateofthenation.co\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stateofthenation.co\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stateofthenation.co\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/stateofthenation.co\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=188594"}],"version-history":[{"count":0,"href":"https:\/\/stateofthenation.co\/index.php?rest_route=\/wp\/v2\/posts\/188594\/revisions"}],"wp:attachment":[{"href":"https:\/\/stateofthenation.co\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=188594"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stateofthenation.co\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=188594"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stateofthenation.co\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=188594"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}