PIMCO's Gross says indebted U.S. to resemble Greece

NEW YORK (Reuters) - Bill Gross, founder and co-chief investment officer of bond giant PIMCO, said in his October investment outlook that the United States could resemble Greece if it does not cut spending and raise taxes to tackle its debt. Gross said that the United States must cut spending or raise taxes by 11 percent of gross domestic product over the next five to ten years in order to preserve its role as financial safe haven. ...

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