While Gross said the level of debt is driving the US towards ruin, Congress will have no choice but to raise the ceiling. But Republicans have vowed they will not do so without serious spending concessions.
The debt is about 90 percent of gross domestic product now, which Gross said translates into a growth rate that will begin to slow at least 1 percent a year.
"It certainly means that we're a slower-growth country and a slower-growth economy," he said. "Ultimately, if we continue a trillion dollars-plus (deficit) then yes, your credit rating will be threatened."hostgator coupon 2011