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Conversation: 275-009

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Start Date: 7-Sep-1971 12:56 PM

End Date: 7-Sep-1971 2:10 PM

Participants:

Nixon, Richard M. (President)Price, Raymond K., Jr.Ehrlichman, John D.

Recording Device: Old Executive Office Building

Full Tape Conversation Start Time: 00:25:51

Full Tape Conversation End Time: 01:09:22

275a.mp3

275b.mp3

NARA Description:

On September 7, 1971, President Richard M. Nixon, Raymond K. Price, Jr., and John D. Ehrlichman met in the President's office in the Old Executive Office Building from 12:56 pm to 2:10 pm. The Old Executive Office Building taping system captured this recording, which is known as Conversation 275-009 of the White House Tapes.

Nixon Library Finding Aid:

Conversation No. 275-9

Date: September 7, 1971
Time: 12:56 pm - 2:10 pm
Location: Executive Office Building

The President met with Raymond K. Price, Jr.

     Draft of economic speech to Congress, September 9, 1971
           -The President's perusal
                -John B. Connally
                -Cost of living
           -Comments and criticism
                -Revision
                -Line
                       -Multiple use
                -Tax proposal
                       -Tax cut
           -Revisions
                -Job development credit
                       -Justification
           -Deletion of sentences
           -10% cut
                -Point previously made by Connally, Paul W. McCracken
                -Controversial nature of program
           -Working force
           -Points of speech
                                   9

               NIXON PRESIDENTIAL MATERIALS STAFF

                          Tape Subject Log
                            (rev. 10/06)
                                                            Conv. No. 275-9 (cont.)


     -Business
           -Incentives, competition
     -Workers
     -Wage earners
     -Productivity
           -Making America competitive
                 -World market
     -The President's August 15, 1971 address
           -Reiteration of arguments
     -New jobs
           -Number
                 -Emphasis
     -Use of figures
           -Problems
                 -Need
     -Proposals
           -Creation of 500,000 new jobs
           -Estimates
           -Congressional cooperation
                 -Wording
                 -90-day freeze
           -Five billion dollar spending cut
                 -Creation of jobs
                 -Tax reductions
                       -Figures
     -Separation of Congressional and Presidential action
           -Explanation of actions
           -Sequence of actions ordered in August 15, 1971 speech
           -Freeze on wages and prices
           -International front
-Revenue sharing and welfare reform
     -Status
           -Reduction in government cost
                 -Reason
           -Cooperation from Congress
                 -Restraint in budget expenditure
                 -Tax cuts
                 -Spending outs
                       -Restraint of inflation
           -Rise in cost of government
           -Tax cuts
                                   10

               NIXON PRESIDENTIAL MATERIALS STAFF

                           Tape Subject Log
                             (rev. 10/06)
                                                             Conv. No. 275-9 (cont.)


            -Postponement of effective dates of revenue sharing and welfare reform
            -Spending cuts
                  -Reduction of government personnel
                  -10% on foreign economic aid
            -Revenue sharing
            -Welfare reform
            -Tax reform
      -Proposed action
            -Priorities
                  -August 15, 1971 speech
                  -Congress
                        -Enactment of tax proposals
      -Structure of speech
            -Postponement
                  -Budget
            -Restraint
            -Postponement
                  -Adjust budget
            -Prosperity without inflation
            -Second draft
            -Progress in international relations
            -Generation of peace
            -Poker analogy
                  -Image
                        -Perceptions
                              -Harry S. Truman
                        -The President's background
-International context
      -Latin America
      -Japan
            -Forthcoming Japanese visit to Washington
      -Economic competition
            -National greatness
            -Poker game analogy
            -Use of theme
-Use of images
      -Public memory
      -Public sacrifice, challenges
      -Focus of speech
      -"Blood, sweat, and tears"
            -Relation of phrase to the President's speech
                                  11

               NIXON PRESIDENTIAL MATERIALS STAFF

                          Tape Subject Log
                            (rev. 10/06)
                                                            Conv. No. 275-9 (cont.)


                  -Reality of situation
-Structure of speech
-Focus
      -Wage and price freeze
      -Spirit of American people
            -Cooperation
                  -Cost of living
            -Challenges
      -Economic controls, free enterprise system
      -Input from Peter G. Peterson, John D. Ehrlichman
      -Creation of 100 million new jobs
      -Wage and price stabilization in post-freeze period
            -Control
                  -Governmental role
                  -Business
                  -Labor
            -1980
      -New jobs
      -Price’s conversation with unknown man
      -Application of technology to solve problems
            -Research and development as percentage of Gross National Product
                  [GNP]
                  -Compared with other countries
            -National Aeronautics and Space Administration [NASA]
            -Nuclear breeder reactors
            -Industry
            -Focus, planning
            -Free enterprise system
            -Japan
                  -Planning of research and development
            -US position in the world
            -Successful US lunar landings
            -Application to economic problems
      -Congress
            -Cooperation
                  -Wage and price controls
                  -Program implementation
      -American work ethic
            -Perceptions of the good life
                  -Wage earners, welfare recipients
            -State of the economy
                                             12

                         NIXON PRESIDENTIAL MATERIALS STAFF

                                     Tape Subject Log
                                       (rev. 10/06)
                                                                     Conv. No. 275-9 (cont.)


                -Challenges
                -US position
                     -Healthy economy, government
                     -Congress
                           -Postponement in reform implementation
                     -The US and the world
                           -Tariffs and quotas
                                 -Image of wall
                           -Competition
                           -Reaction to challenges
                                 -American past history
                                      -Discovery of New World
                                      -Space exploration
                           -Image of wall
                           -The US as a great power
          -Ehrlichman, George Shultz

The President talked with Ehrlichman at an unknown time between 12:56 pm and 2:10 pm.

[Conversation No. 275-9A]

     The President's speech on economic stabilization
          -Meeting with Price
          -Projections and goals
                -100 million jobs
                -Reform proposals
                      -Tax cuts
                      -Research and development
                -American accomplishment
                      -Apollo program
          -Ehrlichman's possible meeting with Price
                -NASA
                      -Forthcoming State of the Union address
          -Tax reform
                -Shultz
                -[Connally’s] recommendations
                -August 15, 1971 speech
          -Time factor
          -Ehrlichman's forthcoming conversation with Price
                -Connally
                -Scheduling
                                              13

                          NIXON PRESIDENTIAL MATERIALS STAFF

                                      Tape Subject Log
                                        (rev. 10/06)
                                                                          Conv. No. 275-9 (cont.)



[End of telephone conversation]

     Draft of economic speech
           -Congress
                 -Tax bill
                 -Competition
           -Inflation
                 -Effects
                       -Virus metaphor
           -Differentiation between ideas and programs
                 -Tax reform
                 -Creation of jobs
                 -Use of technology to meet challenges
                       -NASA
                 -Wage and price stabilization
                       -Way-station analogy
                 -Tax reform
                 -US competitive position in the world
                 -Astronauts as symbol of accomplishment
           -Draft revisions
                 -Forthcoming meeting with the President in the evening

Price left at 2:10 pm.