Quote of the Day

Alas, reality trumps theory. As we have seen almost every time this thesis has been put into practice, it fails. The tax cuts don't magically kick the economy into higher gear and the government ends up short of money. Remember former President George W. Bush and his tax cuts? Same deal.

—Barry Ritholtz, on Kansas' fiscal implosion from worshiping at the alter of supply side economics and tax cuts.