What exactly is wrong with an optimistic president who has confidence in the long-run future of the American economy?

President Bush took this stance in a recent interview with me and at the Economic Club of New York. He told me: "Like any free market, there's also downturns, and we're in one. But I am confident in the long-term strength of our economy."

Optimism, after all, is one of the few levers our chief executive can use every day. By remaining optimistic, Bush i ...

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