Trillion Dollar Obama… or Trillion Dollar McCain

Bloomberg.com: Bonds
Obama May Produce $1 Trillion Deficit, Gross Says Update3

By Candice Zachariahs

June 30 Bloomberg — Bill Gross, manager of the worlds biggest bond fund at Pacific Investment Management Co., said a Barack Obama administration may have no other choice than to produce the first $1 trillion U.S. budget deficit.

“You have inherited a mess, Gross, co-chief investment officer of Pimco, said in an open letter to Obama, the likely Democratic presidential nominee, published on the Newport Beach, California-based companys Web site today. “What do I think you should do as the new president to rectify this mess? All I know is that any solution will come with a high price tag.

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Republicans “will blame you for years and label you `Trillion-Dollar Obama,”’ said Gross, in his analysis that assumes Obama will defeat his presumptive Republican adversary, John McCain. . “There is, in fact, not much that you or any other President can do.”

Yipes. Best of luck to either McCain or Obama! Talk about seeking a challenge…