Stanley Druckenmiller says government needs to stop spending like ‘drunken sailors,’ cut entitlements

Billionaire investor Stanley Druckenmiller said the federal government has been spending recklessly at the expense of the health of the economy.

“We are spending like drunken sailors,” Druckenmiller said on CNBC’s “Squawk Box” Wednesday. “Don’t forget pre-Covid … the federal government was 20% of GDP in spending. Now it’s 25% of GDP … My father told me if you’re in a hole, stop digging Stan.”

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