Use tax-free bonds to spur economy

The State of the Union address sounded reasonably good until one applies a reality check.

The U.S. dollar is in free fall, gold passed $900 per ounce, the unnecessary Bush War in Iraq has burdened our great-grandchildren with a tremendous debt, terrorism is still with us, and we are on the brink of a recession.

Problems with health care and Social Security remain unsolved. Congress and the president are implementing a stimulus for the economy that adds to the debt we are passing on to future generations.

Cut interest rates hurt seniors that depend upon CDs for income. Financing the stimulus package with tax-free bonds can mitigate the latter and avoid passing the debt to our heirs.

An issue of $150 billion of 4 percent, 15-year federally tax-free bonds should be limited to U.S. citizens.

This provides a way for our generation to pay its own way and help the economy at the same time.

Russell C. W. Crom

Mount Prospect