Bush Honors Greenspan With Presidential Medal of Freedom

The following comments are excerpted from President Bush's remarks honoring Presidential Medal of Freedom recipients at the White House on November 9, 2005.

...Alan Greenspan, Ph.D., is one of the most admired and influential economists in our nation's history. So you may be surprised to learn that Alan studied music at Juilliard. He began his career playing the saxophone and clarinet in a jazz orchestra. Even then, he showed his mathematical side -- his fellow band members had him fill out their tax returns. (Laughter.) He was on his way to a lifetime of achievement in the field of economics, from Wall Street to the White House, to the Board of Governors of the Federal Reserve System.

The era of Chairman Greenspan will always be known as one of phenomenal economic growth, high productivity, and unprecedented innovation and opportunity for all our citizens. He is a believer in economic freedom, open and flexible markets, and boundless human creativity. In his 18 years as Fed Chairman, he applied those principles with consistency, with calm, and with wisdom.

As he prepares to conclude his government service, Alan Greenspan leaves behind a standard that will always define a successful chairman: intellectual depth, analytical skill, and credibility beyond question. And he leaves the Fed with the utmost respect and thanks of his fellow citizens. (Applause.)...