Steve Cortes, president of the League of American Workers (LAW), highlighted investor Paul Tudor Jones’ warning about “huge macro risks” to the U.S. economy, including rising federal debt and shifts in corporate financial strategies.
“Paul Tudor Jones on some of the huge macro risks ahead: massive IPOs coming, buyback ability diminished, all against a backdrop of 40T in federal government debt. Some very levered concentrated bets for our Economy,” Cortes wrote on X, where he also shared a video of the investor.
According to the U.S. Treasury, gross federal debt surpassed $39 trillion in late May 2026, with debt held by the public exceeding 100% of GDP.
Several high-valuation companies are preparing for initial public offerings that could rank among the largest in history, and corporate buyback activity faces new constraints under current conditions, MSCI research shows.
Cortes founded the League of American Workers in 2022 to advocate for pro-worker economic policies. He previously served as senior adviser and spokesman for the Trump campaigns in 2016 and 2020, according to LAW’s website.
