RAY DALIO WARNS OF US DEBT CRISIS WITHIN 3 YEARS

Bridgewater founder Ray Dalio told Bloomberg the US could face a debt crisis in roughly three years, give or take two, if the current deficit path holds. Dalio said the government spends about $7.5 trillion a year against roughly $5.5 trillion in revenue, with interest costs near $1 trillion. He wants the deficit cut from about 6% of GDP to 3%, and recommends holding 10% to 15% of a portfolio in gold. The 10-year Treasury yield stands at 5.31% and the 30-year at 5.67%.