BlockNews
FOLLOW ON X
  • BITCOIN
  • CRYPTO
    • ETHEREUM
    • RIPPLE XRP
    • SOLANA
    • CARDANO
    • BINANCE BNB
    • DOGECOIN
    • TRON
    • SUI
    • CHAINLINK
    • LITECOIN
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • OPINION
No Result
View All Result
BlockNews
  • BITCOIN
  • CRYPTO
    • ETHEREUM
    • RIPPLE XRP
    • SOLANA
    • CARDANO
    • BINANCE BNB
    • DOGECOIN
    • TRON
    • SUI
    • CHAINLINK
    • LITECOIN
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • OPINION
No Result
View All Result
BlockNews
Home BREAKING NEWS

Stanley Druckenmiller Compares the U.S. Government to “Drunken Sailors” Amidst Reckless Federal Spending

BlockNews.com Team by BlockNews.com Team
November 1, 2023
in BREAKING NEWS, MEDIA, POLITICS
Reading Time: 3 mins read
3
SHARES
50
VIEWS
Share on XShare in TelegramShare on Reddit
  • Stanley Druckenmiller, billionaire investor, criticized federal government for excessive spending, with federal spending now at 25% of GDP versus 20% pre-COVID. He stated government has been “spending like drunken sailors.”
  • Druckenmiller proposed reducing future Social Security benefits to rein in deficits, arguing “Future seniors looking at five or 10 cents on the dollar is it not unreasonable for us to go to 85 or 90 cents on the dollar?”
  • Despite overall spending concerns, Druckenmiller supports continued aid for Ukraine, stating “Do you know how much we’re going to have to spend if Putin wins in Ukraine? It’s madness.”

Billionaire investor Stanley Druckenmiller recently criticized the federal government for spending recklessly and failing to take advantage of low-interest rates to reduce debt. He argued that tough choices like cutting entitlement programs may be necessary in the future.

🚨 NEWS: Stanley Druckenmiller says the 🇺🇸 government spends money like "drunken sailors."

He specifically mentioned the federal government’s spending now at 25% of GDP, up from 20% pre-Covid.

He's also very bullish on #Bitcoin 👀 https://t.co/qXl0djWgnX

— BlockNews.com (@blocknewsdotcom) November 1, 2023

Druckenmiller Criticizes Government Spending

Druckenmiller stated that the government has been “spending like drunken sailors.” He noted that federal spending was 20% of GDP pre-COVID, but now stands at 25% of GDP. Druckenmiller implored, “My father told me if you’re in a hole, stop digging.”

The federal deficit wound up at nearly $17 trillion last fiscal year, with debt totaling $34 trillion. Druckenmiller proposed reducing Social Security benefits in the future, arguing that “current seniors you’re going to get 100 cents on the dollar. Future seniors looking at five or 10 cents on the dollar is it not unreasonable for us to go to 85 or 90 cents on the dollar?”

Druckenmiller Supports Ukraine Aid

Despite calls for overall spending cuts, Druckenmiller supports continued aid for Ukraine. He stated, “I was actually happy to see when the announcement – the support for Ukraine and Israel, $106 billion. Do you know how much we’re going to have to spend if Putin wins in Ukraine? It’s madness.”

Market Outlook

Looking ahead, Druckenmiller believes the market will be challenged and reward disciplined stock pickers. He previously managed money for George Soros and ran his own hedge fund, Duquesne Capital Management.

Conclusion

In summary, billionaire investor Stanley Druckenmiller criticized federal spending and entitlements. He argued that reductions may be necessary, but maintained support for Ukraine aid. Druckenmiller believes the market will be difficult going forward.

Disclaimer: BlockNews provides independent reporting on crypto, blockchain, and digital finance. All content is for informational purposes only and does not constitute financial advice. Readers should do their own research before making investment decisions. Some articles may use AI tools to assist in drafting, but every piece is reviewed and edited by our editorial team of experienced crypto writers and analysts before publication.
Tags: Federal governmentFederal ReserveIsraelStanley Druckenmillerukraine
Tweet1ShareShare
BlockNews.com Team

BlockNews.com Team

The go-to news source for Cryptocurrency, Blockchain, Technology, & Finance

DON'T MISS THESE! HOT OFF THE PRESS

What Happened in Crypto Today? – September 18: Huge Altcoin News Going Into Q4
CHAINLINK

What Happened in Crypto Today? – September 18: Huge Altcoin News Going Into Q4

September 18, 2025
Jerome Powell October Rate Decision Outlook: What to Expect and How it Will Effect You
FINANCE

Jerome Powell October Rate Decision Outlook: What to Expect and How it Will Effect You

September 17, 2025
Top 3 Scenarios You Need to Expect From Jerome Powell’s Interest Rate Decision Tomorrow
OPINION

Top 3 Scenarios You Need to Expect From Jerome Powell’s Interest Rate Decision Tomorrow

September 16, 2025
Trump’s Shocking $15 Billion Lawsuit Against the New York Times – Here is What You Need to Know
OPINION

Trump’s Shocking $15 Billion Lawsuit Against the New York Times – Here is What You Need to Know

September 16, 2025
Bitcoin and Altcoins Rally Ahead of Fed Decision Here is What Traders Should Expect
BITCOIN

Bitcoin and Altcoins Rally Ahead of Fed Decision Here is What Traders Should Expect

September 16, 2025
Crypto Market Reclaims $4 Trillion: Here is What This Means for Traders Going Into Q4
CRYPTO

Crypto Market Reclaims $4 Trillion: Here is What This Means for Traders Going Into Q4

September 12, 2025
Load More

Related News

Why Worldcoin Could be the Biggest Sleeper Pick of the 2025 Crypto Bull Run

Why Worldcoin Could be the Biggest Sleeper Pick of the 2025 Crypto Bull Run

September 18, 2025
What is Filecoin? A Full Review of FIL and its Huge Potential in 2025

What is Filecoin? A Full Review of FIL and its Huge Potential in 2025

September 18, 2025
What Happened in Crypto Today? – September 18: Huge Altcoin News Going Into Q4

What Happened in Crypto Today? – September 18: Huge Altcoin News Going Into Q4

September 18, 2025
What Every Crypto Beginner Needs to Know Before Buying Their First Bitcoin

What Every Crypto Beginner Needs to Know Before Buying Their First Bitcoin

September 18, 2025
First Ever U.S. Based Dogecoin ETF Launch Breaks Volume Records: What You Need to Expect Next

First Ever U.S. Based Dogecoin ETF Launch Breaks Volume Records: What You Need to Expect Next

September 18, 2025
Twitter Telegram Threads

BLOCKNEWS.COM

BlockNews is your premier source for real-time cryptocurrency, blockchain, political and financial market news.

Stay ahead of the herd with BlockNews

RESOURCES

  • About Us
  • Contact Us
  • Editorial Policies
  • Terms and Conditions
  • Privacy Policy
  • Sitemap

DISCLOSURES AND POLICIES

BlockNews provides independent reporting on crypto, blockchain, and digital finance. Content is for informational purposes only and does not constitute financial advice. Sponsored material is always disclosed. By using this site, you agree to our Terms and Conditions and Privacy Policy.

© 2025 BlockNews

No Result
View All Result
  • HOME
  • BITCOIN
  • CRYPTO
    • ETHEREUM
    • RIPPLE XRP
    • SOLANA
    • CARDANO
    • BINANCE BNB
    • DOGECOIN
    • TRON
    • LITECOIN
    • CHAINLINK
    • SUI
  • MEMECOINS
  • POLITICS
  • FINANCE
  • NFT
  • DEFI
  • GUIDES

© 2025 BlockNews