Interest Rates

In your editorial (“Oh, Boy, How Did We Get Into This?” July 6) you write, “Last week the discount rate was lowered to 3%, but there is no fundamental economic reason it can’t go lower.” May I offer one?

Every time it drops, millions of retired seniors, who saved diligently all their life, who scrounged and did without to provide for a graceful and secure old age, watch their incomes shrink to almost nothingness--what price recovery? How dare you not give any thought to us?

President Bush will hear from us in November--we complain but we do vote!

MORTIMER WOLFF

Coronado