Nixon White House Tapes › Tape 42 › Conversation 042-031

Nixon phone call with Shultz on Gross National Product

Tuesday, April 13, 1971 · 3:53 PM–3:54 PM ET · White House Telephone · 52 sec

ParticipantsNixon, Richard M. (President); Shultz, George P.Conversation042-031 on Tape 42 (tape position 00:31:25–00:32:19)StartTuesday, April 13, 1971 at 3:53 PMEndTuesday, April 13, 1971 at 3:54 PMRecording deviceWhite House TelephoneSourceNixon Library record for 042-031 ↗

AI Summary

President Nixon and George Shultz reviewed the first-quarter Gross National Product (GNP) data, noting a record increase of $28.5 billion. Although the figure fell slightly short of an aspirational $30 billion target, it significantly exceeded private sector forecasts, including those by Otto Eckstein. The two agreed on the positive nature of the report and confirmed that the findings would be officially announced by the end of the week.

  • Gross National Product
  • Economic forecasting
  • Otto Eckstein
  • Economic performance
  • Public relations

Audio

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Transcript (AI-generated)

This transcript was generated automatically by AI (WhisperX) and has not been reviewed for accuracy. Names and numbers are often wrong; speakers are not identified. Do not cite it as authoritative — verify against the audio and the finding aid.

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· Click a timestamp to play from that point; the page address then links to that moment (e.g. #t=125).
Yeah.
Mr. President, Mr. George Shultz.
Yeah.
All right.
There you are.
Hello.
Mr. President, that first quarter increase is $28.5 billion.
So we didn't quite get up to the 30 number.
That's not bad.
But we're still at a record increase.
That's a record.
Way above the Eckstein.
Eckstein predicted 22.
The forecast, 22, the highest around of the private sector.
prognosticators has been around 27, so the highest of the prognosticators was 27, and it's long in that line, so we're higher than that.
It came in higher than that, although you would hope 30 or something a little higher.
Yeah.
Well, that's pretty good.
That's all right.
That will probably be announced on Friday, possibly tomorrow, but I think Friday.
Good.
Good, George.
All right.

NARA Description

On April 13, 1971, President Richard M. Nixon and George P. Shultz talked on the telephone from 3:53 pm to 3:54 pm. The White House Telephone taping system captured this recording, which is known as Conversation 042-031 of the White House Tapes.

Nixon Library Finding Aid

Conversation No. 42-31

Date: April 13, 1971
Time: 3:53 pm - 3:54 pm
Location: White House Telephone

George P. Shultz talked with the President.

[See Conversation No. 247-4B]

     Gross National Product [GNP]
          -First quarter increase
                -Record
          -Otto Eckstein
          -Announcement

Also recorded on April 13, 1971

  • 042-030 3:04 PM · 52 sec — George P. Shultz, White House operator, President Richard M. Nixon, John D. Ehrlichman, and Julius Shiskin talked on the telephone at an unknown time between 3:04 pm and 3:38 pm.
  • 042-032 4:25 PM · 19 sec — President Richard M. Nixon, White House operator, and John B. Connally talked on the telephone at an unknown time between 4:25 pm and 4:40 pm.
  • 042-033 4:40 PM · 7 min — President Richard M. Nixon, Gen. George A. Lincoln, and John B. Connally talked on the telephone from 4:40 pm to 4:47 pm.
  • 042-034 6:00 PM · 3 sec — President Richard M. Nixon and the White House operator talked on the telephone at an unknown time between 6:00 pm and 6:01 pm.
  • 042-035 6:00 PM · 34 sec — President Richard M. Nixon and Thelma C. ("Pat") (Ryan) Nixon talked on the telephone from 6:00 pm to 6:01 pm.
  • 247-005 6:00 PM · 55 sec — President Richard M. Nixon and H. R. ("Bob") Haldeman met in the President's office in the Old Executive Office Building at 6:00 pm.
  • 247-006 6:00 PM · 30 sec — President Richard M. Nixon and Thelma C. ("Pat") (Ryan) Nixon met in the President's office in the Old Executive Office Building from 6:00 pm to 6:01 pm.
  • 247-007 6:01 PM · 12 sec — President Richard M. Nixon and Manolo Sanchez met in the President's office in the Old Executive Office Building at an unknown time between 6:01 pm and 6:04 pm.

All 35 conversations from April 13, 1971 →

Cite this conversation

Conversation 042-031, April 13, 1971. White House Tapes, Richard Nixon Presidential Library and Museum, National Archives. Audio and AI transcript via Easy Nixon, https://www.easynixon.org/tapes/042-031 (accessed October 1, 2026).