Michael Boskin, chosen by President Bush to be his chief economic adviser, said Wednesday the administration intends to pursue policies that would keep the economy expanding but cautioned against looking for a single magic cure that would make continued growth possible.
Boskin, testifying at his confirmation hearing before the Senate Banking Committee, said he planned to advise Bush on such topics as the budget deficit, inflation, employment and income growth."It will be our task to provide the soundest possible advice to President Bush and other administration officials," said Boskin, 43, a highly regarded economics professor from Stanford University.
"One of the greatest challenges facing us today is the continuation of what has been the longtime peacetime expansion in postwar history," Boskin said. "Though no single policy can guarantee the continued growth and stability of our economy, the administration is committed to a set of basic principles aimed at achieving this goal."
Boskin, a top campaign adviser to Bush on economic issues, was expected to have little trouble winning Senate confirmation.
During the campaign, Boskin developed the "flexible freeze," which became Bush's all-purpose answer to queries on how he planned to increase spending for a variety of domestic programs while still lowering the budget deficit without an increase in taxes.