Ray Dalio says he had a 'frank' discussion with the GOP about US debt and the 'mechanics behind how countries go broke'

Source: Business Insider

Ray Dalio said the US budget deficit needs to be cut to about 3% of GDP so that debt servicing costs will not "severely squeeze out the government's ability to spend. "Dia Dipasupil via Getty ImagesRay Dalio met with House Budget Chair Jodey Arrington and House Republicans on Tuesday. Dalio told lawmakers to cut the budget deficit to about 3% of GDP.