Legendary investor Paul Tudor Jones says a 'debt bomb' is about to go off in the U.S.: 'We're fast-pouring consumption like crazy'
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Paul Tudor Jones, a billionaire hedge fund manager, warns that a 'debt bomb' is about to explode in the U.S. due to massive government spending and borrowing. The U.S. economy appears strong, but it is actually 'on steroids' with a 6%-7% budget deficit and fast-pouring consumption. The U.S. deficit essentially doubled in 2023 to $1.7 trillion, and the national debt has surpassed $30 trillion. The Congressional Budget Office projects the deficit to grow to $2.6 trillion over the next 10 years. Federal Reserve Chairman Jerome Powell and U.S. Treasury Secretary Janet Yellen have also expressed concerns about the growing deficit. Jones believes that the effects of the deficit spending may be postponed by a strong economy, but it is an unsustainable path that will manifest itself in the markets eventually.

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https://fortune.com/2024/02/07/paul-tudor-jones-debt-bomb-u-s-deficit/