Billionaire investor Ray Dalio has expressed concerns about the United States' fiscal future after the Senate passed the 'One Big, Beautiful Bill Act' (OBBBA).
Dalio projects the new budget could increase the national debt to $425,000 per American family over the next decade. This is up from the current $230,000 per family.
He warns that without corrective action, severe economic disruptions are likely, potentially leading to spending cuts, tax increases, or devaluation.
The OBBBA includes tax cuts, spending cuts targeting Medicaid and food stamps, and increased funding for border and national security. The bill's future remains uncertain as it heads to the House of Representatives.
Economist Peter Schiff also criticized the bill, predicting it will worsen the national debt and slow economic growth.