Milton Friedman - The Social Security Myth

Using Social Security as his prime example, Professor Friedman explodes the myth that the major expansions in government resulted from popular demand. In a speech delivered more than 30 years ago, he directly relates this dynamic to today's health care debate. http://www.LibertyPen.com

Source: Milton Friedman Speaks
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  News & Politics

[Adrian Bartholomew]

Big government consists of both its punishing and its favoring. Each one creates a false market that never sustains itself. When it breaks, it breaks big. Today, we have artificially sustained it for so long that the balloon has grown quite huge. This fiscal cliff that we are now dealing with IS going to meet us. We can fearfully backpedal as hard and fast as we can but we ARE going over. And we have built it into a very high cliff so we have a very long drop.

Good luck.

[PFB1994]

BS, try living on Food Stamps - it's a horrible way to live that will probably lead to you being dead at 45 from malnutrition. Eating non-stop pasta, hot dogs and macaroni and cheese isn't going to end well.

Obama bailed out companies with tax money - how about George Bush? He had the former head of Goldman go to Congress to demand $700 Billion from the taxpayers. Food stamps were way up under Bush, as well, he's the #2 all time food stamp president.

[F3FisGoodforYou]

This fucking jew should have been tortured to death...

[tiki2188]

If you care...read "Bailout Nation" by Barry Ritholtz. Its very non ideological and balanced. He spells out quite well how the US has a history of bailouts and supporting wall street/investment at all costs. So Fed policy of low int rates, government encouragement to sell sell sell houses to anyone, plus knowing that there would be a bailout, of course tha banks went crazy. Wouldnt you?? Easy way to make a killing and Uncle Sam will bail you out!

[tiki2188]

I can understand the sentiment, I thought the same, and it seems that way: less regualtion and government = huge crash. BUT if you dig deeper its really not the case. The Fed, first and foremost, is largely responsible for the bubble and crash. Various government policies in the tax code, as well as covering losses helped fuel the bubble more. US government + Fed gave incentives to those banks to be so irresponsible...then bailed em out.

[Nihm420]

Yes.

A fiction.

[TELEVISIONARCHIVES]

What's really sad about the poor and food stamps is they don't even purchase good food with it. They buy junk. It just shows you how bad the system is. You don't see people on food stamps eating nutritious food.

[Roy Dudgeon]

What we have now is an increasingly Global monopoloy/oligopoly system of Commercial Corporate Central Planning (CCCP), not free markets. See my video blog on that. And it was government regulations promoting free trade which made it possible. It is a complete myth that government is the opposite of free markets in the sense promoted here. Government is the enemy of free markets because it is promoting a Soviet style central planning system through it's legislation. Friedman is obsolete.

[MrJustlucky11]

Do you even know what a free market is?