Ray Dalio says AI productivity can grow America out of its debt hole. Mike Novogratz says Washington will whiff it, and the robot tax is coming.
Billionaire investor Ray Dalio is telling anyone who will listen that AI productivity may give America a historic shot at growing its way out of its debt problem.
Galaxy Digital founder Mike Novogratz is not buying that Washington will help.
Speaking on his All Things Markets podcast with Anthony Scaramucci, Novogratz said the Trump administration came in with a real plan to bend the debt-to-GDP curve, and whiffed.
The 3% Solution
Dalio’s math requires cutting deficits to roughly 3% of GDP through a mix of tax increases and spending cuts.
Public debt has hit $31.27 trillion, above GDP and the highest level as a share of the economy since World War II, according to Novogratz.
The Bridgewater founder has argued that AI-driven income growth could plausibly ease the burden if policymakers do the fiscal work.
Novogratz said Treasury Secretary Scott Bessent’s “3-3-3” …
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