The federal government needs people buying bonds. But a recent move may hurt that effort.
The Treasury is no longer printing U.S. savings bonds – a staple of family gift-giving since the 1930s.
It was a familiar scene at local banks for years – grandparents, aunts and uncles, and parents walking in and buying paper bonds for youngsters.
No more. Now you can only purchase bonds through the Treasury web site, and you get back electronic bonds.
The government says declining sales (down 86% over the last decade) precipitated the cost-cutting move.
Ah well … at least the government is cutting back on spending on something.