Billionaire investor Stanley Druckenmiller says the debt-ceiling crisis pales in comparison to the 'horror movie' of reckless spending

• The government's overspending will bankrupt future generations, Stanley Druckenmiller said.
• It's an issue that needs more attention than the debt-ceiling crisis, he said in a speech Monday.
• "The fiscal recklessness of the last decade has been like watching a horror movie unfold."

The focus on the looming debt-ceiling crisis is overshadowing a more severe cause for concern: excessive government spending.

That's according to billionaire investor Stanley Druckenmiller, who has been raising the alarm about US deficits for several years. And while he'd like the US to avoid a default, he said more attention should be given to its overspending habits.