Nixon, Ford & Griffin on Economic Policy and Wage and Price Controls

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Well, sorry that took a long time.

They had 40 buckets to get in, and all their men was married to Christopher.

Come on, sir, let's hurry together tonight.

Those guys are planning it tomorrow.

It's time to go.

We do have, uh...

Let me tell you what I have in mind.

I think it's very important.

But it is very important to keep the momentum and the offensive on us.

We have a very great psychological wisdom in the country.

If, on the other hand, I was trying to put those guys on the spot here today in a nice way, but if, on the other hand, the Congress drags its feet for trying to make a person's truth, or anything like that, without that, it could go, it could stand.

Now, they're going to try to lay that, all that business about the interest rate, you know.

I told John Compton...

But in terms of this whole package, it can have

enormous effect on Jolte's economy, yet the country gets the impression that the Congress is going to move on the investment tax credit, on the excise taxes.

They're going to screw off on this, believe me.

They're going to screw off.

They're going to delay.

They're going to do it.

Now, they're caught off balance now.

And as you know, they must all be eating.

And you know what?

Because all the Democrats who come on this seat, all of them asked us to do these things, mostly to one degree or another.

Now that we've done it, their only answer can be, well,

Why didn't we do it?

You've got to watch.

Some of them will not.

Some of them are going to be partisan because they see the space well.

Now, this is a time of Republicans who can't even, in my view, on the partisan issue, just came and said, this is for the good of the country.

This is something that's for jobs.

Let's not have this down here.

Let's not have a partisan.

Because you've got a country behind you.

Like in your state, I imagine that 75% of the people would be for free.

I was in Denver, Mr. President, coming down last night.

And they interviewed 20 people at the Denver Post.

And that's not a very favorable paper.

They interviewed 20 people.

18 out of the 20 were enthusiastic.

And two were a little mixed, but not really antagonistic.

Except for the guy here and there that's going to miss out on a week.

Sure.

And some of the government employees.

Even them, though.

I know some of their wives were saying, well, we're delighted if you keep prices down.

See, the wives know the weight increases.

The weight increases.

And the point that I made in that whole speech, that he affected it.

And as I say, when I put an award in peace, I always get it back to the worship.

There's a poor warrior, 65 to 69, an American wager who's got huge wage increases.

But as the wilds know, they were totally eaten up by price increases, which they were.

And we're stopping that with this.

So there's wage increases.

That's just how it works.

Yeah, Russell was there, you know, trying to squirm off.

put in some of his own pet ideas.

Now, we'll take those things up in January, but we must not, if we can avoid it, Bob, we must not clutter up the Senate with 30 different amendments for every pet thing.

Now, if they boost it up, some will take it.

But do you see what I mean?

The thing to do is to make it short, surgical, and right, and move on it, as I've mentioned.

And then take the other things in January and say, all right, that's the time for a tax reform.

Let's go ahead and say, they'll try to say, well, now's the time to have an exemption for tuition, and now's the time to have an exemption for that.

Sure, maybe the time, but not now.

This is not the time for more cuts to that, sir.

Mr. President, Chuck passed into me a little memo on what he thought we might say.

And Chuck, I don't think right now, in light of the attitude of that meeting, I ought to or anybody else should go out and attack me or go out and hit McGovern.

I think there...

and operate themselves in an unpopular position in the 21st century.

The point that I make is this.

Don't let them, however, build men.

The business, this person, this is not the working man, it's only the businessman.

Don't let them get away with that.

Now, in other words, these little lies can become part of the national consciousness.

So, at appropriate times, I think you've got to take on...Hubert and the others are also taking part in this stuff.

I would say, I would mourn sorrow and anger.

I would say, isn't it too bad that they're partisan about something that the great majority of the country...

and put it in terms of the challenges of peace.

We've got to meet this as we meet the challenges.

It's the greatest of war.

This is the time for our partners.

This is the time to put the country first and not narrow parts of China.

I can cram it down your damn throats.

These guys are desperate.

Politically, they know.

You know, maybe you don't know what he's like, John.

Well, Harris says we've just covered the lights out from under them.

Well, they thought it was their issue.

They're trying to say to Pat, you know, either Muskie or Kennedy have issued any signal.

Their offices won't even count.

And Muskie is

and we've got to have wage prices.

And then Sunday night, the most historic announcement that the president makes, and it must be silent.

It's just not a word.

Not a word.

And to let that answer get a little bit of space.

When this meeting broke up, did the press get to Mike and to Uber Mills?

Was there some way that they could get to them?

We never had a briefing for the five-hour solution, so we didn't sell anything.

Gee, that would have been a time that had made all those guys.

I stood there while he talked to Wilbur and with Mike and said, now what can I say?

And Ron wrote it down.

I stood right there.

And Ron went out and he put it on the record.

Mr. President, he was great.

Wilbur is the guy.

That's why I played the line.

You suggested something.

I think that's a line that we should continue.

Give him the credit.

Yes, sir.

Who does it?

It's us.

If times are bad, they throw us out.

That's why.

Let me say, watch it.

Don't let it build up.

We'll keep in touch with you.

Don't let it build up into a...

If you look at the papers yesterday at the debate, our news analysts said that there was more, of course, the China announcement had an enormous effect, but they couldn't write as many stories because nobody knew about it.

But this has more dominated the news, more dominating than the China announcement, and more, basically, than even the war announcement.

It has more sustaining, yeah, which has had an awe and awe and awe.

And we'll continue for a couple days.

But the point you make, Mr. President, of not letting these guys get too much initiative to do it against us is terribly important because I think you've got to keep their heads low.

And if they do start to get irresponsible, I mean, Humphrey's statement was generally a support.

Jackson's was kind of...

We want to build it up on December 10th, but it's going to be 30, 30, 30, 30, 30, 30, 30, 30, 30.

You're not.

I think it's a very interesting kind of thing.

We could just keep going.

Well, we'll have the bill through the House the first week in October.

On the schedule that Wilbur committed himself to.

But you look at the first seven countries.

The seven countries will be tough.

You'll have mills,

Oh, Wilbur and Johnny will never sign that.

Well, we're going to screw this up.

You see, we're going to let them do it.

They can't all stand up.

This is one time.

Jared and Bob, you've got to get our 12 Republican assistants, you know, moving.

They've got to tell them to hands up.

that it must be this and nothing more.

Can you get that across to them?

It's got to be this program and nothing more, and hold fast on that.

Don't add anything to it.

Don't take anything away.

This is it.

So it's that money that wrote you, that wrote you about waiting for the price action.

I got a lot more than Elaine wanted, and they ought to, but I should say that we can also, that's the problem that's happening.

Because it shouldn't be anymore.

They should start screwing it up, particularly on hand.

And also delay, delay the disaster they're tackling.

Delay that Proxmire can hear now.

You know what I'm afraid, excuse me, Chuck, about Proxmire.

And that's why I asked about ADR.

Proxmire might try to put in that bill on the Senate side, a repealer of your authority for the ADL.

Accelerated depreciation.

Now, they can't do that on the House side.

But, you know, he's been making this big fighting of it.

In fact, I think he's, uh, started a lawsuit, didn't he?

He or somebody.

Some of them.

Some of them still have it.

Don't let him fool around with it.

He's the worst Democrat in the country.

I will say you cut the ground with him on the end of it.

His statements have been good.

And he's been very, very strong and supportive of the president.

But, listen, a lot of them are going to go home and regard the, you know, the tide.

Well, anyway, good luck.

Thanks for coming back.

I miss you.

Good night.

All right.

— 1 min 25 s with no transcribed speech —

But anything I can do the day before I leave, you're here.

Well, I'm going back, but I'm going back soon.

Take a look at this fellow.

I'll get you that.

Yeah, I'd like a copy of this thing.

Put it in here.

Get that to the shelf.

This is what Chuck wrote me.

I don't know if this is going to work.

We'll see what it does.

I think right now, if they start to undermine us, then I think we're done.

I'll be back in Michigan Sunday.

I'll be good.

What is the situation with the farmer?

The farmer is standing by whenever it's convenient for you, Mr. President.

Yeah.

In fact, I think he's right now, I think he has an empty chair right now, if you'd like to see it.

Yeah, either that or...

I was thinking it might be more convenient for me at 4.30 if we could... 4.30 is fine for me, Mr. President.

The nice guys.

Very nice guys.

Also, if you've ever seen any opera companies,

It's been a very good reaction from the Republicans.

As we try to find those who may help attack, it's a little bit more, it's a little reactive.

A jury just sent me going out and said, well, if you really want some help and need it by this weekend, he said, I can do something Saturday or Sunday.

Yeah.

Well, I think you just can't let our judiciary bother you to get completely away with it.

It's not in the first sense.

I mean, I want to have a genuine policy.

Did you see the, uh, one-by-one report that you got in?

It's been up all day.

The first hour was up 1, but it was up 0.98.

Second hour was up 4.67.

Third hour up 5.54.

And it's running at about 5 million shares an hour, which would have to be at 27, 28.

It's at least hanging in, you know, days.

Isn't it a big struggle?

You can't go two days in a row with a pod hunter.

It's none of my charm.

You can hang the second day over the ground.

We can yell.

This is a very good start.

It's a good start because it shows us if it would have stopped, even if it stays in the evening, it's not very near evening.

You'd be in very good shape early in the evening.

The TV, I swear to you, we had a 40 rating, which is enormously good for a summer break.

It's just 48 million viewers on our city.

So we had a good impact.

And I think the buildup, you know, that probably helped.

And some of the actors, a lot of people, some of the night cars, a lot of people look at the TV.

Oh, there is.

But this is bigger than the normal audience.

If you have 80 shares, which is above, the developments will go higher than you usually get.

Which means that 20% of the people watching television or watching non-network stations didn't see 80% of it.

50 million people.

Well, I just wanted to report on the meeting of this

The report to the press went well because, uh, John Burns stopped out at the driveway and saw some of the press and gave his answer.

The, uh, full cooperation made the points in need for the whole program to pass and so forth.

And gave that report to the press and then I filled it in based on Massville quotes and also on the Burns quote.

Uh, now I bought the new one and I passed the press and I just put it in there.

And, uh...

Why don't you check with the staff, I have to see what other points he thinks might be needed, and then tomorrow you can take it all the way down and see if he needs us to cover it.

Right.

And if he needs my ears, this is what I'm going to do.

I'm going to see if he heard me, and I'm not going to catch him.

I'll review my notes with him, and then we'll see what else we need to do.

Thank you.

too long.

Are you positive?

I know some.

I wonder if that was all he had on his lungs.

Just to see that off.

We really didn't see that.

He came to us.

There was some hope that he wouldn't be able to make it.

I guess he pressed along and cursed us through all your responsibilities.

Well, at least we got it out.

If you do, then hell, this way you're going to get that much credit, more credit for it.

that we have something that is so powerful that we've just obliterated the argument about, well, is it good or bad?

We've obliterated it.

We've put them right to the sword.

Right, yeah.

I was talking to Henry earlier, and what he's asking,

He sees it in the same terms as his other chefs.

You know, you buy them off your criticism and critics of the eaters.

You have to do what you ought to do.

Just like on the Lord, you were doing the right thing, but you had to buy the people off, or we couldn't just argue and debate at the level of whether we were drawing enough or whether we were making enough.

So all of a sudden, we had to do something that was almost your own collection.

And then they said, my God, he's possibly doing something.

I hear as much of this as there are out to the current problem.

I mean, it may or may not work.

Boy, it just gives people a feeling.

Well, if it's the fancy cohort kind of throws them off, they don't.

Anybody with me on these trips will I bother.

I have to talk to them.

That's the beauty of this kind of trip.

You're not going from any place to any place.

We're getting some people to rise in the very sense that they're not people that you, you know, to deal with.

Good crowds people in

I just don't want to be caught.

I just want to be sure that we're doing everything we can.

It may be to help us make a difference.

It may be that there's enough.

My guess is that you can always get 1,000.

That's my opinion.

That's the number to sort of match.

1,000 is as good as 5,000 is now.

You know?

Sure.

Just that.

And 10,000 is as good as 100,000.

Just a big number.

Well, the numbers, when you get into the thousands, the numbers don't make any difference.

When you start pulling, oh, yeah, $8,000, $10,000.

Yeah, it just doesn't matter now.

Like the days, markets used to be like that.

There were more than 5,000 back then.

There probably were, probably were, but there probably ain't.

The one you couldn't knock out was the economy.

There was, and that's the one you, you sat there and said, well, Frank doesn't think we're gonna want to.

Black, he can't knock out anyone.

He, there's no way to knock out a nun, even if he did want to.

The question for you, how do you get down about it?

No way, to some extent, but you lose more, much more than you gain.

Man, there's, there's a solid answer there.

starts with what we're calling an unemployment attitude event.

All right.

Next slide.

Doesn't make any difference, but it doesn't matter.

Everybody says, geez, I thought he did it.

The fact of the matter is, we aren't going to debate about it.

Whatever they have to say, what you're doing is working.

I'm sure of it.

But I just firmly believe that the psychology of technology has been 90% of our problem.

And then you turn at least 90% of it around and therefore solve 80% of the problem.

And you can't help to solve more than that.

You're always tempted.

I started out in a bad mood, and you say that.

When you start out in a good mood, you can handle a lot of rough news.

I tried to hop up.

you're bad at doing is you turn down things, you don't buy that hurt stuff, you don't go out to the interview, you don't steal a hell of a lot, you just steal, buy a guy who don't deal with it about things.

And it doesn't take very much, you know, difference to make arms change, there's always change.

In fact, the war made people think I had a bad attitude in my job, and that eventually affected me.

I was very disappointed about the war.

Now that it's turning around, that's your, that's your choice, that's the difference.

See it for one minute.

All right.

This is the schedule.

That's the rebound.

would be glad to stay and do the job of executive director and special assistant or whatever it is during the 1933 period and put that together and do that.

I feel that he just has to.

Well, he works at this point fairly well with Lincoln.

Although, as he says,

two or three weeks to find a guy and get him in in OEP and then a couple months

Well, it isn't necessarily the case that the OVP will have the special role for the access to the border.

Yeah.

I couldn't even understand it.

I know we want to spend it, but basically even in the 90 days, I think somebody's got to be there who can inspire confidence and moxie or something of that sort.

Well, do you have anybody else?

We've got some people, we've got some people outside that we pick it up.

We got some people outside that are good people.

Yeah.

And it's wonderful to get a really good time.

Well, it's one thought.

Yes.

I mean, I'm getting a real guy.

And with all this strength, you can get a better man for a week.

You could before because you got a real.

for 90 days.

Say, what do you need for 90 days to do this job?

Now, I really think they're having a valuable business experience to do this for me.

Now, are you going to abandon and abolish all the people in the 90 days?

No, we're not going to do that.

No, but what I'm getting at, George, is that you didn't get it by default.

It's a hell of a political post that you can get a guy out of the government or any other country on this, on the latest prices.

Perhaps it isn't.

You see, that exact issue is about to either go out in quite a meeting if you have to drive it on the plane,

Are you running?

Yeah, he gets other people to run stuff.

He's good at getting other people to do his work.

He recruits some very good people.

Run stuff, I'm taking that.

I think Rumsfeld was fine.

He would be a speeder, sort of, whatever.

Just a question, what was his job?

Arnie would run it.

Arnie, Arnie.

I was saying, maybe, why don't you just make Arnie O-E-T-M the other?

Well, he, he can run like that.

Why doesn't he run Rumsfeld?

But there's plenty to do beyond what OEP does as the executive assistant for economy and as chairman of this cost of living council.

It's their job not only to get the freedom out of it, but to figure out what comes next.

Nixon, Ford & Griffin on Economic Policy and Wage and Price Controls

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Nixon Library Finding Aid

Transcript (AI-generated)

Also recorded on August 17, 1971

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Nixon, Ford & Griffin on Economic Policy and Wage and Price Controls

AI Summary

Audio

NARA Description

Nixon Library Finding Aid

Transcript (AI-generated)

Also recorded on August 17, 1971

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