Optical pulses as short as 48 fs have been successfully generated from a cavity dumped, synchronously pumped dye laser. The laser has a linear cavity with a group velocity dispersion controller and Kiton Red S as the laser dye. Utilizing a single-mode fiber and a pair of Brewster-angled, single-crystal Paratellurite prisms, the pulses are compressed to 30 fs duration with a peak power of 130 kW at repetition rate 3.8 MHz.