Don’t count Bill Gross, managing director of the giant investment management firm PIMCO, among those expressing relief at the government’s recent debt ceiling compromise or any subsequent package of budget cuts that may materialize over the next 10 years.
Gross, whose company manages more than $1 trillion in assets, said the deal -- which he characterized as a display of “dysfunctional government -- scarcely touches the current year’s $1.5 trillion deficit.
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