In the News (from Google): “The International Monetary Fund issued a clarion call to bickering US politicians Tuesday, urging them to solve the country’s debt problems before a still-vulnerable economy is tipped over the brink.

“In a hallmark semi-annual report, the Washington-based fund warned policymakers on the other side of the US capital that, while the world’s largest economy is improving, they invite trouble by not addressing a looming debt crisis. …

“So far the United States has avoided the type of debt crisis that has ravaged Europe – with the dollar’s safe-haven status and moderate growth providing a sizable safety net even as agencies have downgraded the country’s credit rating. …

“A flare-up in the euro area from increased sovereign and bank stress could easily undermine confidence in the US corporate sector and thereby squeeze investment and demand undermining growth. …

“Spending cuts will automatically come into effect and major tax breaks will end in the next year if Congress does not act.”

My Comment: There is no doubt that today’s rates are pre-election and everyone understands that this will be over, and they will have to pay their bills.
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