On Tuesday, former White House communications director Anthony Scaramucci said artificial intelligence could power a major surge in U.S. economic growth, potentially easing the country's debt burden over time in a pattern he likened to the post-World War II era.
Speaking in a video shared on X, the SkyBridge Capital founder said AI-driven productivity gains could lift U.S. GDP growth to as high as 6% to 7% annually. He argued that if economic growth consistently outpaces government spending, the debt-to-GDP ratio could gradually decline without requiring the U.S. to fully pay down its obligations.
"I think that's the big issue for political leadership. You've got to slow down the growth of spending so that it's below the growth of the GDP," Scaramucci said.
He pointed to the post-World War II period, when U.S. debt peaked at about 122% of GDP but fell over time as strong economic expansion reduced the relative burden. In a post on X, he reiterated that historical precedent, writing, "We never paid it back in the traditional sense. We just grew the economy faster than the debt grew." He added that a similar outcome could unfold if AI delivers the productivity surge many expect, though he cautioned against overconfidence in forecasts.
Scaramucci also warned that markets remain vulnerable to shocks, particularly from global conflicts. He said a severe escalation could trigger a sharp selloff. "If the war gets out of control, we could be 30% lower in three months and that would be completely justified," he said, while adding he is currently positioned for a more optimistic scenario.
His comments come as U.S. economic data shows a mixed picture. The economy grew at a 2% annualized rate in the first quarter, up from 0.5% previously but below expectations of 2.3%. Meanwhile, inflation, as measured by the Personal Consumption Expenditures index, rose to 3.5% year over year in March, driven in part by higher energy prices.
