Why Isn't United States Issuing 100-Year Bonds?

IN AN ERA of epic economic malpractice, one operation that has received scant attention is the U.S. Treasury Department's mismanagement of the national debt. With interest rates abnormally low--thanks to their suppression by the Federal Reserve--you'd think Uncle Sam would go heavy on the issuance of long-term bonds to lock in ultralow costs. It wasn't so long ago that a 30-year Treasury bond would routinely yield more than 7% instead of what it has paid recently: less than 3%.