Washington Should Lock In Low Rates
Corrections & Amplifications</br></br>Pope Julius II paid Michelangelo to paint a Vatican ceiling. Due to an editing error, some Web and print versions of Todd G. Buchholz's June 19 op-ed "Washington Should Lock In Low Rates" said the work had been done on a tomb.</br></br>(WSJ June 25, 2012)</br></br>America has long been the land of the game show. And at some point just about all of us have screamed at a contestant: "Don't be stupid -- take the money!"</br></br>That's what American citizens should be screaming at the United States Treasury today. The government has racked up $5 trillion of debt since President Obama moved into the White House. We don't know how we're going to pay it back. Yet the world is willing to lend us 10-year money at rates substantially below 2%.