Bill Gross Says U.S. Is ‘Out-Greeking the Greeks’ on Debt

Bill Gross, who runs the world’s biggest bond fund at Pacific Investment Management Co., said Treasuries “have little value” because of the growing U.S. debt burden.

The amounts the U.S. owes on its bonds, combined with obligations for Social Security, Medicare and Medicaid total about $75 trillion, Gross said in his monthly investment outlook, published on the Pimco website. The U.S. will experience inflation, currency devaluation and low-to-negative interest rates relative to consumer-price gains if it doesn’t reform its entitlement programs, Gross said in the report.