The semi-annual occasion on which the guests question their host. Our guests this time stick to the question posed in the title, which nonetheless gives them free rein to talk about everything from Taiwan's expulsion from the UN, to Mr. Nixon's Supreme Court appointments, to the latest round of GATT, to wage and price controls. JAL: "[President Nixon] is reliably-I think reliably-reported to have used a four-letter word which I presume we can no more use here than the newspapers could use it..." WFB: "... The fact that he should utter an expletive seems to be an odd point to record, since his predecessor couldn't get by a normal sentence without the use of one.... Now, if he had said, 'I'm going to propose a law abolishing the American Bar Association,' then I think I would understand your point better."