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Economy / Nixon / Phase II #13185

ABC Evening News for Thursday, Oct 07, 1971
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(Studio) ABC to carry President Nixon's speech on phase II at 7:30 p.m. EST.
REPORTER: Harry Reasoner

(DC) Nixon briefs Congress leaders on phase II.
REPORTER: Harry Reasoner (narrates)

(DC) Treasury Secretary John B. Connally before Senator Finance Committee [Senator Vance HARTKE - asks about Nixon's speech.] [CONNALLY - says he wouldn't say President trying to surprise anyone.] [HARTKE - says it'll be surprise. President never consulted me.] [CONNALLY - calls that President' loss.] Many feel phase II to include these items: wage and price controls, wage increases with productivity increases, plan to be supervised by government council and bds. to offer recommendations. [Senator Russell B. LONG - asks why there can't be interest rate rollback.] [CONNALLY - cites substantial drop in categories.] Indicated President won't include interest rates.
REPORTER: Sam Donaldson

Donaldson, Sam;
Reasoner, Harry

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