John Boehner Declares the US is Broke! News to Me…

Daily Mail tells us:

“The House of Representatives Speaker warned: ‘Everything is on the table. We’re broke. Let’s be honest with ourselves.’

Excuse me Mr. Speaker, but broke?!?!?!

Now, I know it is too much to expect John Boehner to understand the monetary system of the country he lives in.  And I know it is too much to expect John Boehner to understand the US can not go broke and is not a solvency risk.  

However, it is not too much to expect John Boehner to know some basic facts.  Rates on 30 year treasury securities are currently 4.68%, roughly unchanged over the last 5 years.  The bid to cover on the last 30 year treasury auctions was 2.51, and the bid to cover has been INCREASING since 2006. 

These are not indications of an entity going broke.  In fact, these are indications of just the opposite.