From Newsmax:

Pimco chief investment officer Bill Gross says interest rates are heading higher and healthcare reform will cost us big time.

"No investment vigilante worth their salt or outrageous annual bonus would dare argue that current legislation is a deficit reducer as asserted by Democrats and in fact the Congressional Budget Office," writes Gross in a note to investors.

And, as a November IMF staff position note pointed out, "high fiscal deficits and higher outstanding debt lead to higher real interest rates and ultimately higher inflation, both trends which are..."

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