Billionaire investor Ray Dalio, founder of Bridgewater Associates, which is the largest hedge fund in the world, recently told Bloomberg Television that he believes the U.S. is on the brink of a potential late-cycle debt crisis. After passing a last-minute bill to suspend the debt ceiling until 2025 so the U.S. could continue to fund its already approved obligations, the U.S. Treasury is now gearing up to issue $1 trillion of U.S. Treasury bills, potentially threatening market stability.

Here's why Dalio is concerned.

When the U.S. government hit the debt ceiling in January, the U.S. Treasury stopped issuing debt.

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Source Fool.com