PRESIDENTIAL REPORT CARD: Milton Friedman on the State of the Union

This interview was filmed on February 10, 1999. Milton Friedman, Senior Research Fellow, Hoover Institution and Nobel Laureate in Economic Sciences grades the achievements of the Clinton administration and evaluates the programs the President proposed in his 1999 State of the Union address.

[@codnba136]

i miss Milton. there is nobody who really replaced him.

[@esilja21]

14:07 Saving Private Earnings-Budget Surplus - 16:08 Universal Savings Accounts are a terrible idea 17:22 Think Locally, Act Globally (So many government programs) - 20:01 Term Limits 22:15 Higher Learning (A monopoly w/low quality, high cost) - 24:10 Teacher's Unions=decline in quality

[@Ermekbrat]

The intro is priceless)

[@joyirisstaveley]

Wish I too thought we would end up with a smaller government, but I don't see that happening, unfortunately. Love Milton Firedman :)

[@TheLegalImmigrant05]

Negative income tax. What a grand idea, Milton.

[@ThePeterDislikeShow]

Isn't the Earned Income Tas Credit a form of negative income tax?

[@RoyalProtectorate]

Well Friedman did want the Negative income tax

[@ajmalarkunnummal]

Bonds don't necessarily have to be paid back altogether... It could be in the form of say monthly payments. In fact most of the bonds issued are...

[@grantcivyt]

The bond is in the amount owed to the individual, which is different from "total contribution." Taxpayers will have to pay for the bonds, of course, but that's no change. The regressive social security tax would be eliminated, and the costs would be paid out of the broader tax collection. Contending with the unfunded liability of SS sooner than later is necessary.

[@ThePeterDislikeShow]

The bond idea at 12:08 won't exactly fix the system; if SS taxes are then whose taxes will pay off those bonds when these people hit 65?

[@ThePeterDislikeShow]

I was in 6th grade!!

[@pm6341]

Unfortunately, he was wrong about the internet’s impact on size of government.