With the 2011 budget battle nearly behind them, Republicans are eager to begin pressing for their 2012 budget blueprint, which would cut spending by more than $4 trillion over the next decade and revamp Medicare and Medicaid.
Bill Gross, who runs the world’s biggest bond fund at Pacific Investment Management Co., bet against U.S. government-related debt last month and boosted cash to be the largest of the Total Return Fund’s holdings.
Barack Obama may lose the advantage of low borrowing costs as the U.S. Treasury Department says what it pays to service the national debt is poised to triple amid record budget deficits.
