Bill Gross Warns Soaring US Debt Poses Looming Inflation and Default Risk
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The US has a $34 trillion debt deficit that will drive high inflation over the next decade, worsening "like global warming," according to Bill Gross.
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Debt will compound rapidly as the US continues to rely heavily on deficit spending.
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The Fed could fund rising deficits, but this will further spur inflation.
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In 2-10 years, compounding trillion+ dollar yearly deficits will become a huge economic threat.
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Without legislative action to curb overspending, the risk of an eventual US debt default could roil global economies.