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

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."

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• Ray 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.
• Dalio has repeatedly warned of the economic dangers that come with soaring deficits.

Ray Dalio, the founder of hedge fund Bridgewater Associates...