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Dalio backs bipartisan proposal to cap yearly U.S. budget deficits
House Resolution 981 aims to reduce the federal deficit from 6% to 3% of GDP by 2030, with bipartisan support and backing from Bridgewater founder Ray Dalio.
- Last month Bipartisan Fiscal Forum Co‑Chairs Bill Huizenga, R‑Mich., and Scott Peters, D‑Calif., introduced House Resolution 981 to cap annual deficits at 3% of GDP by 2030, but Congress has yet to take it up.
- Rising deficits and ageing demographics have pushed calls for tighter deficit rules as the fiscal year 2025 deficit hit $1.7 trillion, about 6% of GDP, with the national debt nearing $39 trillion.
- House Resolution 981 directs the House Budget Committee to recommend enforcement options within 180 days, asks the Rules Committee to propose rule changes, and requires the Congressional Budget Office to analyze major bills while urging avoidance of budget gimmicks.
- On Thursday, Ray Dalio backed the proposal and warned the main challenge would be sticking to the plan when it gets difficult, supported by supporters urging adoption.
- More than two decades have passed since Congress met the 3% of GDP target, and reporting noted the resolution could still allow years of deficit spending before reaching a balanced budget goal.
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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…
·Calhoun, United States
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Total News Sources11
Leaning Left2Leaning Right2Center3Last UpdatedBias Distribution43% Center
Bias Distribution
- 43% of the sources are Center
43% Center
L 29%
C 43%
R 28%
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