What Is My Take On The U.S. Debt Deal. I Will Quote PIMCO Chief Bill Gross

Photo: PIMCO founder Bill Gross

PIMCO Chief: Deal Won't Prevent Downgrading Of US AAA Credit Rating -- The Hill

The U.S. is headed for a downgrade in its credit rating regardless of whether a deal is reached this weekend, according to PIMCO founder and managing director Bill Gross.

When asked by CNN host Ali Velshi on Sunday whether the U.S. deserved to maintain its AAA credit rating Gross said a downgrade from one of the major credit rating agencies is inevitable.

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My Comment: Bill Gross should know .... his own money is on the line. At least his comments are far more mild than what Russia's Putin has been saying.

On a side note, Bill Gross's comments on Canada are right on.