Quote of the Day

| Wed Aug. 27, 2008 12:46 AM EDT

QUOTE OF THE DAY....It's a new day (barely), so I get a new quote. This one is from Jared Bernstein, after reading the Census Bureau income report that I blogged about earlier:

Trickle-down economics died yesterday morning at 10AM. The cause of death was a data release from the US Census Bureau, but trickle-down had been ailing from lack of empirical support for decades. Also known as "supply-side economics," trickle-down was the love child of Ronald Reagan, Arthur Laffer, and Jude Wanniski. It is survived by Larry Kudlow and Co., and the editorial page of the Wall St. Journal.

My earlier post on the subject is here.