"Blackstone CEO Warns of 'Four More Years' of Debt Misery Under President Biden"

Blackstone CEO Stephen Schwarzman expresses doubts about the US economy under a potential second term for President Biden, citing concerns about increasing deficits, debt-to-GDP ratio, and open borders. Despite the grim outlook, Schwarzman remains optimistic for 2024, expecting interest rate cuts and measuring US inflation at around 2%, in contrast to official data. The US national debt has surpassed $34 trillion, raising questions about the country's financial stability.