Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.

Bridgewater Associates founder Ray Dalio warned House Republicans of the dangers of rising US deficits and urged them to cut the budget deficit to just 3% of gross domestic product or risk debt service costs squeezing government spending.  

Dalio’s message of austerity comes as House and Senate Republicans battle over the size of spending cuts to be paired with a giant tax cut coming later this year. The US budget deficit was 6.6% of GDP in 2024, according to the Congressional Budget Office. 

Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics and policy. On this edition, Joe and Kailey speak with:

• Bloomberg Capitol Influence Team Lead Megan Scully.
• Republican Congressman Marlin Stutzman of Indiana.
• Bloomberg Politics Contributor Rick Davis and Democratic Strategist Roger Fisk.
• Professor at the University of Virginia's Miller Center and former US Diplomat Mara Rudman.