“It has plenty of room to boost taxes.” According to this billionaire, the US must change Social Security and reduce public health care to address its escalating fiscal crisis

Hedge fund executive Paul Tudor Jones is advising Americans to prepare for a “big fiscal problem” in the future.

The founder and CIO of Tudor Investments claimed “there are clear answers” for the country’s $33 trillion debt crisis, yet not everybody will find appealing them, during an appearance on CNBC’s “Squawk Box” this week.

Tudor Jones claims that many American politicians frequently focus consider one aspect of the situation—how to reduce spending. He thinks that MPs are unable to consider the alternative solution to the country’s “big fiscal problem,” which is to “unambiguously increase taxes.”

Based on the most recent study from CEIC Data, the country’s tax-to-GDP ratio at the peak of 2022 was 18.7%, which is much less than that of the European Union (26.8%) and the United Kingdom (27%).