Milton Friedman takes on Edward Kennedy in 1987

Not that anyone ever heard Ted Kennedy had this exchange with Milton Friedman i the Judiciary Committee.
Economist Milton Friedman was testifying before the Senate Judiciary Committee in favor of a national constitutional amendment for a balanced budget. Kennedy argued that a requirement for a balanced budget would restrict the federal government’s power and its ability to spend – thus, he said, Washington’s role in more fairly and equitably distributing wealth, goods and services.

“Senator, socialism hasn’t worked in 6,000 years of recorded history,” explained Friedman. “Why won’t you give up on it?”

Kennedy rose to his feet, according to Nuttle, who attended the hearing, and replied: “It hasn’t worked in 6,000 years of recorded history because it didn’t have me to run it.”

The quote can be found in the book “Moment of Truth” by Marc Nuttle.

Kind of says it all

larvcom on August 27, 2009 at 7:54 AM

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