Politics
David Rubenstein says the US may effectively reduce its debt burden through ‘devalued dollars’
My First Million
From blue collar to billionaire: How David Rubenstein built his $500B investment firm
What was said
""We have $40 trillion of federal debt. Our ability to pay this off is virtually non-existent. And so, what we're really going to have to do is is uh in effect pay it off in devalued dollars.""
David Rubenstein says he worries about the US federal debt, which he describes as $40tn, and argues that the country’s ability to pay it down is “virtually non-existent”. He predicts the burden will instead be reduced in effect by repayment in “devalued dollars”, with the dollar likely to fall in value.
Verification status
Attributed speaker claim
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Source and context
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- Speaker
- David Rubenstein · guest
- Programme
- My First Million
- Episode
- From blue collar to billionaire: How David Rubenstein built his $500B investment firm
- Clip time
- 34:09
- Original source
- Watch the source segment →
From this episode
My First Million