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Conversation 445-039

TapeTape 445StartWednesday, June 13, 1973 at 7:17 PMEndWednesday, June 13, 1973 at 8:27 PMParticipantsNixon, Richard M. (President)Recording deviceOld Executive Office Building
AI Summary

President Nixon rehearsed his national address titled “The Nation’s Economy” in the Old Executive Office Building. He practiced delivering arguments emphasizing the strength of the American economy, citing record employment and income growth while acknowledging the urgent problem of rising inflation and food prices. This recording served as a dress rehearsal to refine his messaging regarding the administration's new economic policies.

Economic policyInflationSpeechesEmploymentCost of living
AudioNARA Description

On June 13, 1973, President Richard M. Nixon met in the President's office in the Old Executive Office Building at an unknown time between 7:17 pm and 8:27 pm. The Old Executive Office Building taping system captured this recording, which is known as Conversation 445-039 of the White House Tapes.

Nixon Library Finding Aid
Conversation No. 445-39

Date: June 13, 1973
Time: Unknown between 7:17 pm and 8:27 pm
Location: Executive Office Building

The President practiced his speech, “The Nation’s Economy.”

[A transcript of the final broadcast of this speech appears in Public Papers of the Presidents of
the United States: Richard Nixon, Containing the Public Messages, Speeches, and Statements of
the President, 1973, page 584-587 and in the Weekly Compilation of Presidential Documents:
January-June 1973, pages 765-769.]

[Begin recorded remarks]

[End recorded remarks]
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 Do not cite this transcript as authoritative.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.

Good evening.
I want to tell you tonight about some strong actions I have ordered today with regard to the American economy, actions which will be important to you in terms of the wages you earn and the prices you pay.
But first, since we have been hearing so much in the past month about what is wrong with the American economy, let me tell you this.
Let us look at some of the things that are right about our economy.
We can be proud that the American economy is by far the greatest and strongest and most productive economy in the world.
It gives us the highest strength of the living.
We are in the middle of one of the biggest, strongest booms in our history.
More Americans have jobs today than ever before.
The average worker is earning more than ever before.
Your income buys more today than ever before.
In August 1971, I announced a new economic policy.
Since then, the nation's output has increased by a phenomenal 11.5%.
A more rapid growth than any comparable period in the last 21 years.
Four and a half billion new civilian jobs have been created, more than any comparable period in our history.
At the same time, we overcap our disposable income.
That means what you have left to spend after taxes and after inflation has risen by seven and a half percent.
This means that in terms of what your money will actually buy, in the past year and a half, your annual income has increased by the equivalent of four weeks' pay.
When we consider these facts, therefore,
We can say that in terms of jobs, of income, of growth, we are enjoying one of the best growths in our history.
We have every reason to be optimistic about the future, but there is one great problem that rightly concerns every one of us.
This is rising prices, especially rising food prices.
By the end of last year, we had brought the rate of infection down to 3.4% here, as the best record against inflation in 1972 of any major generation.
But now prices are going up at an unacceptably high rate.
All right.
Christ, we thank you, Lord.
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