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OCR Page 1 of 54with
THE WHITE HOUSE
WASHINGTON
THE PRESIDENT HAS SEEN
RECOMMENDED TELEPHONE CALL
all
Ay
TO:
Milton Friedman
Conservative Economist, University of Chicago
RECOMMENDED BY: Charles W. Colson
we
PURPOSE:
To thank Mr. Friedman for his favorable article
in the July 26th issue of Newsweek.
BACKGROUND:
In his article, "Steady As You Go", Mr. Friedman
praises the President for his "great will power
and moral courage" in taking the long view with
regard to handling economic policy as well as
foreign and domestic matters. He points out that
the President is willing to sacrifice transitory
gains for long term advancement. No letter has
been sent.
TALKING POINTS:
1.
The President read with interest Mr. Fried-
man's article in this week's issue of News-
week, and thanks him most sincerely for his
support.
2.
The President appreciates Mr. Friedman's
confidence in the Administration's policy of
moderation. We strongly believe that the
current expansion will continue at a steady
My
pace within the normal business cycle.
3.
The President is pleased to see that the public
is being educated, by such noted experts as
Mr. Friedman, to the fact that the economy
cannot be turned around overnight.
4.
Mr. Friedman's reference to George Shultz's
Chicago speech appeals to the President.
Barring any unforeseen storms, the voice from
the bridge will continue to say, "Steady as you
go. 11
July 21, 1971
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