ClaimsRay Dalio

“Like in the state of Connecticut, about eight percent of the money comes from the federal government and the rest comes from within the state.”

Ray Dalio, Bridgewater founder, interviewee 25 October 2020 Transcript: Ray Dalio - The Big Picture (Ritholtz) archived copy

Factual Economics and markets

In Connecticut, about 8 percent of education funding comes from the federal government and the rest from within the state.

Unresolvable The public record could not settle it.

Factual: Statements about the present or the past, checked against the record: did they hold up?

What would count as true or false

Compare against the federal share of Connecticut public K-12 education revenue in the latest data available as of October 2020 (for example Census Bureau Annual Survey of School System Finances for FY2018, or NCES revenue data). The claim is rough ('about eight percent'). True: the federal share is roughly 6–10% and nearly all the rest comes from state and local sources. Mostly true: the federal share is 4–6% or 10–12%. Mostly false: the federal share is 12–16% or under 4%. False: the federal share is above 16%, or most non-federal funding does not come from within the state.

Set before the research began.

Evidence (3)

  1. E1 Digest of Education Statistics, 2019 U.S. Department of Education, National Center for Education Statistics · 3 February 2020

    “| Connecticut | 11,583,918 | 503,812 | 941 | 4.3 | 4,494,453 | 38.8 | 6,585,653 | 56.9 | 6,431,528 | 55.5 | 92,242 | 0.8 |”
  2. E2 Revenues and Expenditures for Public Elementary and Secondary Education: FY 17 (Finance Tables, NCES 2020-301) U.S. Department of Education, National Center for Education Statistics · February 2020

    “State and local governments provided $648.0 billion, or 91.9 percent of all revenues. The federal government contributed $57.3 billion, or 8.1 percent of all revenues (derived from table 1).”
  3. E3 Revenues and Expenditures for Public Elementary and Secondary Education: FY 18 (Finance Tables, NCES 2020-306) U.S. Department of Education, National Center for Education Statistics · August 2020

    “State and local governments provided $676.9 billion, or 92.2 percent of all revenues.”

Reasoning

E1 gives a Connecticut row from an NCES Digest table, but the quote has no column headings or table title saying what each figure measures or which year it covers. Under the rules, an unlabelled row like this cannot settle the federal share. E2 and E3 give national figures for FY2017 and FY2018 (federal 8.1% in FY2017; state and local 92.2% in FY2018). Neither gives Connecticut's federal share, so the evidence does not settle the claim.

Cite this claim

Ray Dalio, “In Connecticut, about 8 percent of education funding comes from the federal government and the rest from within the state.” (said 25 October 2020). Verdict: unresolvable. Reliability API, claim c_635222ed3328, method 0.1.0+c876030c, dataset release v1.1.2. https://epistacklabs.com/claims/c_635222ed3328

This claim is in dataset release v1.1.2, with the same verdict.

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More factual claims by Ray Dalio

  1. Mostly false Factual 9 May 2026
    “That has been true through all history.”

    Throughout history, including before World War II, societies have generally had rising living standards and become richer.

  2. Mostly true Factual 9 May 2026
    “So when we look at history, we see that in all such periods, all the fiat currencies go down, okay?”

    Dalio said that history shows all fiat currencies go down in all such periods, which followed the interviewer's reference to times "where they can print the money".

  3. Mostly true Factual 9 May 2026
    “It takes in about $5 trillion, so it spends 40% more than it takes in.”

    The US government takes in about $5 trillion and spends about $7 trillion, about 40% more than it takes in.

  4. Mostly true Factual 9 May 2026
    “you could still have financial problems, like the breakdown of the monetary system in 1971, okay?”

    The monetary system broke down in 1971 while the United States was still a dominant power.

  5. Resolved true Factual 9 May 2026
    “one-third of our debt is held by foreigners, so that’s a different thing.”

    About one-third of US debt is held by foreigners.

All of them

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