Steep budget deficit would come back to haunt the US, says Ruchir Sharma

Rockefeller International chairman Ruchir Sharma warned that the US maintaining a high budget deficit relative to its GDP could have negative repercussions in the future. He highlighted the shift from sustainable deficits to a current 6% deficit, higher than other developed countries. Sharma expressed concerns about both US presidential candidates disregarding deficits. He also discussed the impact of asset price inflation and the constraint in housing supply in the US.