There's a good post over at Brain Mash about why there is no point in making English the official language. I certainly agree, there are no reasons outside of racist reasons to make English the official language. Moreover, it would likely be unconstitutional. The first amendment protects freedom of speech, which certainly must include what language speech is in or it is a useless amendment.
On a similar note, I have recently found out that one of my favorite stories about official languages and the United States is an urban legend. I hate that, especially for such a great story.