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President's Handwriting, October 1972 [5 of 5]

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THE SECRETARY OF COMMERCE WASHINGTON, D.C. 20230 October 24, 1972 SECRET THE PRESIDENT HAS STREET MEMORANDUM FOR THE PRESIDENT FROM: Peter G. Peterson SUBJECT: Harris Survey--Change in the Public's View of the Administra- tion's Economic Record This is a follow-on to an earlier memorandum in which we summarized the findings of a Lou Harris survey conducted in late June. The fol- lowing conclusions are based on a second Harris survey between September 30 and October 5, 1972, to examine trends. (Some key survey results Tab A) CONCLUSION I: There has been a distinct, but still modest improvement in the public's evaluation of the economic situation in the past 3 months, an improvement which is also reflected in slightly higher approval of the controls program. The improvement, however, is only marginal. The percentage who believe that economic conditions in their area have improved over the past year is up from 15% to 19%. The per- centage who believe their own condition has improved is up from 23% to 28%. Still, the substantial majority feel there has been either no improvement or that economic conditions are worse. Thus, while there is improvement, there is still a substantial lag in the public's per- ception of the real improvement. Similarly, approval of the Pay Board has risen from 28% to 34%, while approval of the Price Commission has risen from 26% to 32%. Still, over 50% give both the Pay Board and Price Commission a negative rating. This improvement is encouraging and should be mentioned, but it is small enough to cause credibility problems if progress on the economy is overbilled. CONCLUSION II: The public continues to support the controls program and believes that any change should be in the direction of strengthen- inq it. Complaints about the controls program are based on performance, not principle. The vast majority (80%) think the Price Commission should get tougher, whereas a minuscule 2% say it should get less tough. Fifty-five percent (down from 59%) believe it orders too few price roll- backs, and by a 10 to 1 margin, the public approved the roll-back of auto company price increases. Seventy-two percent say that the trouble with the price controls is that many items, in particular food, are not covered. DECLASSIFIED E.O. 12356, Sect. 3.4 COMMERCE 4/24/92 By Rmg NARA, Date 11/20/92 (MR NLN 90-6/1 )

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