QUOTE OF THE DAY:Art Laffer,

QUOTE OF THE DAY:

Art Laffer, the supply-side economist who’s “Laffer Curve” helped Ronald Reagan craft his tax-cuts, is similarly ambivalent. Last Sunday, he flew to Los Angeles and met with Mr. Schwarzenegger and his policy team. Mr. Laffer says he was “tremendously impressed” with the actor, but without seeing specific policy proposals will not lend any support to his candidacy. Mr. Laffer jokingly told Arnold that he was thrilled that Mr. Buffett was picked as an economic advisor, that is until “I learned that he meant Warren instead of Jimmy.”

John Fund writes that by bringing in Buffett (Warren, not Jimmy), Arnold has his work cut out winning over California conservatives.