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Sunday, November 25, 2012

What is Internet? (1994)

William F. Buckley's 1987 interview with Milton Friedman - (Philby)


 Buckley: His book is in stores. It's called "The War on Fiscal Capitalism." Milton Friedman joins us now. Thank you so much for sitting down with us today.

Friedman: I'm happy to be here, Bill.

Buckley: Let's get right into it. What, if any, are the underpinnings of a free market franchise under the guise of the current administration's T-bill initiative?

Friedman: Well, I have to say, the current administration faces certain, if any, questions, as to the job creation, the private sector, and so on, but particularly, with the approval rating, and finally the Dow Jones at 6%, these questions have yet to be answered. And that's not-withstanding Governor Clancy's foreign policy debacle. Where is this money coming from? That's what I want to know. Who has the troops in mind?

Buckley: It feels like "too little, too late."

Friedman: I tend to agree, but the dialogue is very one sided, needless to say. I can't imagine that the administration would have any kind of vested interest in anything else, though, what with their offices being closed on Tuesday.

Buckley: Well then, you probably know what my next question is...where does that leave Fanny Mae?

Friedman: Well, it's not a question of Fanny, I like to say. It's a question of funding. Who's funding the T-bill? What can be accomplished with another four-year filibuster? Why is the president at Martha's Vineyard? The reports need to be made public so there can be accountability, Governor Clancy not-withstanding, of course. You can't gut the military and then expect social security to be there 30 years down the road. What about the housing bubble? What about Medicaid?

Buckley: --and Medicare

Friedman: --Not so much "Medicare."

Buckley: Is there any other way, though, is what I'm asking. Isn't this ultimately a question for gay marriage? This is the states deciding for the states' special interest groups. Is it not? Are they not more or less legislating from the bench in this case? Is this not the issue? What do you see as being the real issue here as far as the troops are concerned?

Friedman: The real issue is interim spending.

Buckley: But what about abortion on demand? Could the president, for example, get an abortion at Martha's Vineyard?

Friedman: It's something for the voters to keep in mind, definitely. An abortion can be something to chew on. It's food for thought.

Buckley: You've definitely given us some food for thought. Thank you so much for your time, Mr. Friedman.

Friedman: Thank you, sir, for having me.