March 01, 2001

In his recent budget speech, President Bush outlined his economic program. Overall, Bush did a great job. We dissected his program using the optimal policy mix structure we detailed in a paper earlier this week, and we feel the president certainly did his part. However, two questions immediately popped up. The first has to do with the actual plan. While the program broadly speaking is acceptable, the devil is in the details, so to speak. Washington has a way of blurring the details with every passing committee meeting. Second, we wonder if Greenspan will do his part to deliver the optimal monetary policy - one focused solely on price stability.

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