Skip to main content
Wednesday, November 11, 2026Nov 11

Key investor sees dangers in the debt-limit debate

By MATTHEW CRAFT

AP Business Writer

The world’s largest bond investor says the fight over raising the country’s borrowing limit threatens to throw the debt market into a tailspin.

“It’s the wrong way to do it,” says Bill Gross, manager of the $241 billion Pimco Total Return Fund, the largest mutual fund. “Obviously, I’m all for a move to a balanced budget over time. But this is like imposing the death penalty for shoplifting.”

In arguments over lifting the federal government’s $14.3 trillion debt limit, both sides have used bond investors as a bogeyman.