Ray Dalio's grave warning: President Donald Trump has only 3 years to slash fiscal deficit by over half before bond markets plunge the U.S into a debt death spiral

Billionaire investor Ray Dalio warned the US has three years to reduce its fiscal deficit or risk a debt crisis. The national debt is over $36 trillion. He believes higher interest rates will trouble bond investors. Dalio suggested cutting the deficit to 3% of GDP to prevent borrowing issues. He also claimed that austerity measures might be needed.