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Dalio backs bipartisan proposal to cap yearly U.S. budget deficits

Last month, Bipartisan Fiscal Forum Co-Chairs Bill Huizenga and Scott Peters introduced House Resolution 981 to limit yearly deficits to 3% of GDP by 2030 or sooner.
After sharp pandemic-era deficits and rising entitlement costs, lawmakers face a fiscal year 2025 deficit of $1.7 trillion, about 6% of GDP, and a national debt nearing $39 trillion.
To enforce the cap, the resolution directs the House Budget Committee to recommend enforcement options within 180 days, and the Rules Committee to suggest rule changes, including CBO analysis requirements.
Despite high-profile support, Congress has yet to take up the measure, even after Secretary Scott Bessent said he asked President Donald Trump to support it, Dalio warned of political fears.
After reaching the 3% of GDP target, Congress would aim for a balanced budget, but the last surplus was in 2001, highlighting the long-term gap with recent practice.

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Dalio backs bipartisan proposal to cap yearly U.S. budget deficits

(The Center Square) – Bridgewater founder Ray Dalio on Thursday backed a bipartisan proposal to cap annual deficits at 3% of gross domestic product, a resolution that would allow Congress to continue to spend more taxpayer money than it collects…

2 days ago·Calhoun, United States

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Billionaire investor Ray Dalio supports bipartisan proposal to cap yearly US budget deficits

The measure sets a target of reducing the deficit to 3% of GDP or less. After reaching that goal, Congress would then aim for a balanced budget. Congress has not achieved this in more than two decades.

3 days ago·Washington, United States

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