A mixed integer linear programming (MILP) technique simultaneously minimizes the leakage and glitch power consumption of a static CMOS circuit for any specified input to output delay. Using dual-threshold devices the number of high-threshold devices is maximized and a minimum number of delay elements are inserted to reduce the differential path delays below the inertial delays of incident gates. The key features of the method are that the constraint set size for the MILP model is linear in the circuit size and power-performance tradeoff is allowed. Experimental results show 96%, 40%, and 70% reductions of leakage power, dynamic power, and total power, respectively, for the benchmark circuit C7552 implemented in the 70 nm BPTM CMOS technology.