This is only the beginning. As tax revenues fall in the recession, and popular resistance to taxes increases, states–not having their own Fed counterfeiting machines–will have to cut. But John: 1.5% won’t do it.

This is only the beginning. As tax revenues fall in the recession, and popular resistance to taxes increases, states–not having their own Fed counterfeiting machines–will have to cut. But John: 1.5% won’t do it.