Billionaire investor Ray Dalio says the U.S. debt limit is a farce, and 'works like a bunch of alcoholics who write laws to enforce drinking limits'

An image of Ray Dalio. (Credit: Zheng Huansong—Xinhua via Getty Images))

The past week, the U.S. has been treading dangerous territory after hitting the national debt ceiling of $31.4 trillion. Lawmakers on both sides of the aisle are arguing about how to proceed, but if something doesn’t change soon, the government won’t be able to pay its bills.  

Treasury Secretary Janet Yellen has spoken several times about taking drastic measures, but it won’t be easy to delay the impact of doing that. And Yellen said last Saturday that a potential default on the debts could mean a “self-imposed calamity” for the global economy. 

While all that might sound like a crisis worth worrying about, billionaire investor and founder of major investment management firm Bridgewater Associates Ray Dalio thinks otherwise. He called the debt ceiling a “farce” in a LinkedIn post Wednesday, noting that there is “no real debt limit.” 

If you’re interested on my thoughts on the farcical debt ceiling debate and the important questions it raises, you can find them here: https://t.co/39fktiuJHW

— Ray Dalio (@RayDalio) January 25, 2023