Gross & El-Erian See Weak Growth, and the Need for Gov't Spending

In a rare joint interview, PIMCO’s Mohamed El-Erian and Bill Gross say that the US will continue to experience slow growth because of structural problems with the economy, and that the public sector must step in and spend money in areas in which the private sector isn’t willing to do so. Gross tells WealthTrack’s Consuelo Mack that he sees growth of 0% to 1% for the U.S. in the next 6 to 12 months, which means good investment opportunities will be few and far between. El-Erian, meanwhile, offers his take on the European debt crisis, and why Europe must have its “moment of truth” about the nature of its union.