Friedman speaks about three things he believes the population is confused on: the federal debt, the federal deficit and higher taxes, and the balance of payments deficit. With all three, he does not see them as problem, with them being a good thing viewed a certain way. In the process, he argues for an amendment to the Constitution that would (a) balance the budget and (b) 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.