Friedman looks at the state of the United States economy. He says the country is currently in a boom, due to earlier monetary growth. After spending a considerable amount of time analyzing the Federal Reserves, he looks at the budget of the country. He says the deficit is not a problem; just a scapegoat. He says the real problem is total government spending, to which he argues for a constitution amendment to balance the budget and limit spending.

Friedman's biography includes: Professor of economics, University of Chicago, 1946-77; recipient, Nobel Prize in economics, 1976; senior research fellow, Hoover Institution, 1977-2006.