The 10-year Treasury bond, the benchmark rate for the US in borrowing money, dipped to an all-time low yesterday of 1.459%. Treasury sold notes at that price at a $21 billion auction, amid high demand. Today it’s jumped back to an astronomical 1.48%.

These numbers are outrageous.

The terrible jobs report should be matched with another set of data to point out that this is the economy that corporate executives have wanted for a long time. Because they are not suffering in a time of weak demand. They’re actually thriving.

One of the standard opinions from many economists, especially those on the right, was that the US spending/debt load was unsustainable and would surely spark massive inflation. After the downgrade of US debt by Standard and Poor’s after the debt limit deal, debt was seen as toxic. America just had to deal with its debt problem or the bond market would deal with it for them. This dog simply has not barked.

Each time the Catfood Commission holds its secret meetings Alex Lawson of Social Security Works has been outside with his camera, shooting video of the closed front door as FDL runs a live stream on our front page. The Washington Post wrote it up recently. As committee members go in and out of the room Alex asks them questions when he can and yesterday he had an exchange with Alan Simpson that was…well, extraordinary.