Nixon White House Tapes ›Tape 82 › Conversation 082-004

Nixon, Cost of Living Council & Connally on Phase II

Monday, November 15, 1971 · 12:00 AM–3:36 PM ET · Cabinet Room

ParticipantsNixon, Richard M. (President);  Cost of Living Council;  Connally, John B.;  McCracken, Paul W.;  Burns, Arthur F.;  Campbell, J. Philip;  Stans, Maurice H.;  Hodgson, James D.;  Romney, George W.;  Shultz, George P.;  Knauer, Virginia H.;  Lincoln, George A. (Gen.);  Stein, Herbert;  Flanigan, Peter M.;  Mullaney, Joseph;  Rhode, Earl D.;  Cheney, Richard B.;  Abrahams, Albert E.;  Kosters, Marvin H.;  Alfultis, Richard J.;  Greener, William I. ("Bill"), Jr.;  Lynn, James T.;  Silberman, Laurence H.;  Paarlberg, Donald A.;  Partee, J. Charles;  Rumsfeld, Donald H.;  Grayson, C. Jackson ("Dan"), Jr. (Dr.);  Boldt, George H.Conversation082-004 onTape 82StartMonday, November 15, 1971 at 12:00 AMEndMonday, November 15, 1971 at 3:36 PMRecording deviceCabinet RoomSourceNixon Library record for 082-004 ↗

AI Summary

President Nixon and the Cost of Living Council convened to discuss the efficacy of the administration's economic stabilization program, specifically the transition from Phase I to Phase II. Participants evaluated the success of existing price and wage controls and addressed the future of the Pay Board and Price Commission ahead of the 1972 calendar year. The meeting concluded with a formal vote to adopt an amendment to 'Option 2' regarding economic policy adjustments.

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 Do not cite it as authoritative — verify against the audio and the finding aid.

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2:53:41or vote on option 2.
2:53:42Questions that are needed.
2:53:45Are you required to vote on option 2?
2:53:49All those in favour, 6-5-2-9.
2:53:50Aye.
2:53:50Opposed, no.
2:53:51The ayes had it.
2:53:53Option 2 is amended.
2:53:55Yes, it's adopted.
2:53:56How do we vote on it to answer your questions?
2:54:03Yn gyntaf, y peth cyntaf y byddwn i'n ei wneud yw hynny.
2:54:17Yn gyntaf, y peth cyntaf y byddwn i'n ei wneud yw hynny.

NARA Description

On November 15, 1971, President Richard M. Nixon and members of the Cost of Living Council, including John B. Connally, Paul W. McCracken, Arthur F. Burns, J. Philip Campbell, Maurice H. Stans, James D. Hodgson, George W. Romney, George P. Shultz, Virginia H. Knauer, Gen. George A. Lincoln, Herbert Stein, Peter M. Flanigan, Joseph Mullaney, Earl D. Rhode, Richard B. Cheney, Albert E. Abrahams, Marvin H. Kosters, Joseph E. Malaga, Richard J. Alfultis, William I. ("Bill") Greener, Jr., James T. Lynn, Laurence H. Silberman, Donald A. Paarlberg, J. Charles Partee, Donald H. Rumsfeld, Dr. C. Jackson ("Dan") Grayson, Jr., George H. Boldt, and members of the press, met in the Cabinet Room of the White House at an unknown time between 12:00 am and 3:36 pm. The Cabinet Room taping system captured this recording, which is known as Conversation 082-004 of the White House Tapes.

Nixon Library Finding Aid

Conversation No. 082-004

Date: November 15, 1971
Time: Unknown between 12:00 am and 3:36 pm
Location: Cabinet Room

John B. Connally met with Paul W. McCracken, Arthur F. Burns, J. Philip Campbell, Maurice H.
Stans, James D. Hodgson, George W. Romney, George P. Shultz, Virginia H. Knauer, General
George A. Lincoln, Herbert Stein, Peter M. Flanigan, Joseph Mullaney, Earl D. Rhode, Richard
B. Cheney, Albert E. Abrahams, Marvin H. Kosters, Joseph E. Malaga, Richard J. Alfultis,
William I. Greener, Jr., James T. Lynn, Laurence H. Silberman, Donald A. Paarlberg, and J.
Charles Partee

     National economy

            -Price adjustments
            -Vote

The President, Donald H. Rumsfeld, Dr. C. Jackson (“Dan”) Grayson, Jr., and George H. Boldt
entered at 2:02 pm; members of the press were present at the beginning of the meeting

     National economy
          -Cost of Living Council
                -President’s schedule
                -Connally
          -Pay Board and Price Commission
                -Accomplishments
                -Success of the President’s program
                -Prospects for 1972
                      -Phases I and II
                -Television appearance
          -Connally’s view
          -The President’s program
                -Roles of McCracken and Burns
                -Success of Phase I
                -Congressmen’s comments
                -Movement into Phase II
                      -Rumsfeld
                -Inflation

     Pending continuing resolution
          -Senate action
          -Effect of non-passage

The President left at 2:13 pm

     Vote on option 2

     Question on option 2

Recording was cut off at an unknown time before 3:36 pm

Also recorded on November 15, 1971

  • 014-093 9:19 PM · 10 min — President Richard M. Nixon, White House operator, and George E. Allen talked on the telephone from 9:19 pm to 9:29 pm.
  • 014-094 9:30 PM · 44 sec — President Richard M. Nixon, White House operator, and John H. Terry talked on the telephone from 9:30 pm to 9:31 pm.
  • 014-095 9:45 PM · 20 sec — President Richard M. Nixon and the White House operator talked on the telephone at 9:45 pm.
  • 014-096 9:46 PM · 17 sec — President Richard M. Nixon and the White House operator talked on the telephone at 9:46 pm.
  • 014-097 9:46 PM · 17 sec — President Richard M. Nixon and the White House operator talked on the telephone at an unknown time between 9:46 pm and 9:56 pm.
  • 014-098 9:56 PM · 2 min — President Richard M. Nixon, White House operator, and Willis O. Preston, Jr. talked on the telephone from 9:56 pm to 9:58 pm.
  • 014-099 10:04 PM · 53 sec — President Richard M. Nixon, White House operator, and Ralph A. Sanbuchi talked on the telephone from 10:04 pm to 10:05 pm.
  • 014-100 10:37 PM · 2 min — President Richard M. Nixon, White House operator, and Donald Smith talked on the telephone from 10:37 pm to 10:39 pm.

All 57 conversations from November 15, 1971 →

Cite this conversation

Conversation 082-004, November 15, 1971. White House Tapes, Richard Nixon Presidential Library and Museum, National Archives. Audio and AI transcript via Easy Nixon, https://www.easynixon.org/tapes/082-004 (accessed September 18, 2026).