Optimism For Fiscal Reform Fading Fast

There was a lot of hoopla last week about the stock market having doubled since the financial crisis low, but if the rally is to continue, it is critical that the political class ends the posturing and get on with the people's business. The release of President Obama's budget last week was the latest indication that both sides of the aisle still don't get it. They seem more interested in creating talking points for the next election cycle than actually doing the serious work required to reduce the budget deficit and enact tax reform. The Federal Reserve policy of quantitative...