Most Bush Tax Cuts Should Be Extended, Pimco’s McCulley Says

President George W. Bush’s tax cuts should be extended except for the top two brackets to help bolster the fragile economic recovery, said Paul McCulley, a managing director at Pacific Investment Management Co.

“Congress has to extend them or else the double-dip- recession risk will go up dramatically,” McCulley said in a Bloomberg Radio interview with Kathleen Hays on ‘The Hays Advantage.’