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Start Date: Thu Mar 23 1972 20:02:00 GMT+0000 (Coordinated Universal Time)

Description: On March 23, 1972, President Richard M. Nixon and members of the Cost of Living Council, including John B. Connally, Herbert Stein, Donald H. Rumsfeld, J. Philip Campbell, Peter G. Peterson, James D. Hodgson, George W. Romney, George P. Shultz, Gen. George A. Lincoln, Virginia H. Knauer, Arthur F. Burns, James W. McLane, Albert E. Abrahams, Joseph Mullaney, Marvin H. Kosters, Richard B. Cheney, James Connor, Richard J. Alfultis, Donald Smith, Clark MacGregor, William L. Gifford, Charles R. Perry, and the White House photographer, met in the Cabinet Room of the White House at an unknown time between 3:02 pm and 3:56 pm. The Cabinet Room taping system captured this recording, which is known as Conversation 096-004 of the White House Tapes.