Gross Says Obama’s $300 Billion Plan Not Enough
Sept. 8 (Bloomberg) — Bill Gross, founder of Pacific Investment Management Co., said President Barack Obama’s plan to stimulate the economy with more than $300 billion in tax cuts and spending is inadequate. “I don’t think $300 billion does it,” Gross said today in an interview with Bloomberg Television’s Tom Keene. “I would like to see something bold.” Obama will propose cutting payroll taxes for small businesses as part of a plan to spur hiring, according to an administration memo obtained by Bloomberg News. The tax cut will be included in a package Obama plans lay out in a speech … Read more