← 010-134010-136 →

Conversation 010-135

TapeTape 10StartThursday, October 7, 1971 at 1:03 PMEndThursday, October 7, 1971 at 1:20 PMTape start time04:18:20Tape end time04:20:06ParticipantsNixon, Richard M. (President);  White House operator;  Acker, Marjorie P.;  Safire, William L.;  Nixon, Richard M. (President);  White House operator;  Acker, Marjorie P.;  Safire, William L.Recording deviceWhite House Telephone
AI Summary

President Nixon consulted with speechwriter William Safire regarding the drafting of an upcoming speech on Phase II economic policies. The discussion centered on the political risks of incorporating a proposed phrase about "price reduction psychology" and "windfall profits" to combat inflation. Fearing that opponents and labor unions might weaponize the language, Nixon and Safire ultimately decided to adopt a more ambiguous, "fuzzier" presentation for the address.

Phase IIInflationSpeechwritingEconomic policyWindfall profitsPolitical messaging
AudioNARA Description

On October 7, 1971, President Richard M. Nixon, White House operator, Marjorie P. Acker, and William L. Safire talked on the telephone at an unknown time between 1:03 pm and 1:20 pm. The White House Telephone taping system captured this recording, which is known as Conversation 010-135 of the White House Tapes.

Nixon Library Finding Aid
Conversation No. 10-135

Date: October 7, 1971
Time: Unknown between 1:03 pm and 1:20 pm
Location: White House Telephone

The President talked with the White House operator.

[See Conversation No. 285-26A]

     Request for a call to William L. Safire

[The President conferred with Marjorie P. Acker in the background]

     Acker's schedule
         -Text of draft

[End of conferral]

The President talked with Safire.

     Phase II speech, October 7, 1971
          -Acker
          -Inflation
                -Prices
                      -Problem with wording
Transcript (AI-Generated)

This transcript was generated automatically by AI and has not been reviewed for accuracy. Do not cite this transcript as authoritative. Consult the Finding Aid above for verified information.

Just one minute.
Please.
Sapphire, please.
Yes, sir.
There you are.
When you get half of it done, send it over and I can start reading it.
Mr. Sapphire.
Yeah, Bill.
Yes, sir.
Just a minute, Rose.
Just a minute.
Marge.
Yeah.
I think I should put in, and I'm not going to put it in the written text.
I'm going to say it.
But where we say, because it puts more balance into it, where we say that we are, we have just, we live in an inflation psychology.
Everybody just assumes that prices will go up, you know?
It's time for some price reduction psychology.
When there are windfall prices, profits, prices should come down.
That doesn't bother you, does it?
Well, that's a nice quotable line for somebody that uses ammunition.
Ammunition on windfall?
Yeah.
In other words, any good profits at all will be called windfall by whatever attacking it.
The trouble is labor will get them.
If we don't get it, then prices.
Well, it may be.
I'm afraid the whole thing is subject to that, though.
But, well, maybe that just gives them one thing that they can't.
I hate to give a little short, horrible line that they can use as a slogan.
And we've got it in there, of course, that prices should come down, the policy of the price.
But what the hell, maybe we better not put it as sharply.
Okay.
I would think a fuzzier presentation would be better.
All right, fine.
← 010-134010-136 →