- The U.S. must slash its deficit to 3% from an expected 7.5% before the president’s second term in office ends, otherwise bond markets will not be able to absorb the amount of new debt the Treasury issues and a death spiral will ensue, according to Bridgewater hedge fund founder Ray Dalio.
President Donald Trump has no more than three years to slash the fiscal deficit by over half before bond markets plunge the United States into a debt death spiral.
