Monthly Archives: November 2012

Open letter to Speaker of the House John Boehner (Part 33)

November 27, 2012 – 12:10 pm

Open letter to Speaker of the House John Boehner (Part 33)

John Boehner, Speaker of the House

H-232, The Capital, Washington, DC 20515

Dear Mr. Speaker,

I know that you will have to meet with newly re-elected President Obama soon and he will probably be anxious for you to raise taxes and  federal spending, but he will want you to leave runaway entitlement programs alone. When that happens then you have one thing you can hold over his head and that is the debt ceiling.

You must stand up to him and tell him that you can not raise it. In December of 2012 or January of 2013 at the latest we will be shutting down the government if we don’t increase the debt limit according to the LA Times. You got to listen to the Tea Party heroes like Rep. Todd Rokita, Ben Quayle (R-AZ), Jeff Landry (R, LA-03), Raúl R. Labrador , Tim Huelskamp,  Rep. Justin Amash (R-MI),  , Brooks, Mo (AL – 5), Buerkle, Ann Marie (NY – 25),Chabot, Steven (OH – 1),Duncan, Jeff (SC – 3), Fleischmann, Chuck (TN – 3) ,Gowdy, Trey (SC – 4) ,Griffith, H. Morgan (VA – 9) , Harris, Andy (MD – 1) ,Huizenga, Bill (MI – 2) , Mulvaney, Mick (SC – 5) , Pompeo, Mike (KS – 4) , Ribble, Reid (WI – 8), Rigell, E. Scott (VA – 2) , Ross, Dennis (FL – 12) ,Schweikert, David (AZ – 5), Scott, Austin (GA – 8) , Scott, Tim (SC – 1) , Southerland, Steve (FL – 2) , Stutzman, Marlin (IN – 3) , Walberg, Timothy (MI – 7) , Walsh, Joe (IL – 8),and Woodall, Rob (GA – 7) .

__________

Here is another Tea Party hero you need to listen to:

Washington, D.C. – Today, Congressman Marlin Stutzman (IN-03) discussed the upcoming vote to increase the ‘Debt Ceiling’ by $2.4 trillion from $14.29 trillion to $16.7 trillion.  H. R. 1954 the bill to ‘implement the President’s request to increase the statutory limit on public debt’ to cover our $1.6 trillion budget shortfall will be voted on later this evening and is expected to fail with both Democrats and Republicans voting against.  The bill would fulfill the requests of the Democrat leadership to have a vote on a “clean” bill or a bill that raises the debt ceiling without spending cuts or any other mechanism to control deficits.
“Increasing the ‘debt ceiling’ cannot be discussed in a vacuum.” Stutzman stated “I will vote no for increasing the ‘debt limit’ as the out of control spending of Washington must be curtailed before we even discuss an increase.  If Congress cannot come to an agreement on increasing the public debt then Secretary Geithner will have to look into prioritizing our National debt.  Prioritizing the ‘debt’ will allow for Social Security, the Military and Veteran’s Affairs to maintain their programs and not affect those that depend on them.  The President must come to the table with budget reforms; he doesn’t understand the financial situation the Nation is in.  So far only the House has written and passed a budget.”
More information on H.R. 1954 can be found at www.Thomas.gov.

Sincerely,

Everette Hatcher, 13900 Cottontail Lane, Alexander, AR 72002, lowcostsqueegees@yahoo.com, www.thedailyhatch.org, ph 501-920-5733

___________

Related posts:

Government shutdown coming, will there be any tea party heroes available to stand up to Obama?

DEBT LIMIT – A GUIDE TO AMERICAN FEDERAL DEBT MADE EASY. Uploaded by debtlimitusa on Nov 4, 2011 A satirical short film taking a look at the national debt and how it applies to just one family. Watch the guy from the Ferris Bueller Superbowl Spot! Produced by Seth William Meier, DP/Edited by Craig Evans, […]

Some Tea Party heroes (Part 1)

DEBT LIMIT – A GUIDE TO AMERICAN FEDERAL DEBT MADE EASY. Uploaded by debtlimitusa on Nov 4, 2011 A satirical short film taking a look at the national debt and how it applies to just one family. Watch the guy from the Ferris Bueller Superbowl Spot! Produced by Seth William Meier, DP/Edited by Craig Evans, […]

Some Tea Party heroes (Part 8)

Rep Himes and Rep Schweikert Discuss the Debt and Budget Deal Michael Tanner of the Cato Institute in his article, “Hitting the Ceiling,” National Review Online, March 7, 2012 noted: After all, despite all the sturm und drang about spending cuts as part of last year’s debt-ceiling deal, federal spending not only increased from 2011 […]

Some Tea Party heroes (Part 7)

Michael Tanner of the Cato Institute in his article, “Hitting the Ceiling,” National Review Online, March 7, 2012 noted: After all, despite all the sturm und drang about spending cuts as part of last year’s debt-ceiling deal, federal spending not only increased from 2011 to 2012, it rose faster than inflation and population growth combined. […]

Who are the Tea Party Heroes from the 87 Freshmen Republicans?

Here is a study done on the votes of the 87 incoming freshman republicans frm the Club for Growth. Freshman Vote Study In the 2010 election, 87 freshmen House Republicans came to Washington pledging fealty to the Tea Party movement and the ideals of limited government and economic freedom. The mainstream media likes to say […]

Tea Party Conservative Senator Mike Lee interview

Tea Party Conservative Senator Mike Lee interview Here is an excellent interview above with Senator Lee with a fine article below from the Heritage Foundation. Sen. Mike Lee (R-UT) came to Washington as the a tea-party conservative with the goal of fixing the economy, addressing the debt crisis and curbing the growth of the federal […]

Some Tea Party heroes (Part 6)

I feel so strongly about the evil practice of running up our national debt. I was so proud of Rep. Todd Rokita who voted against the Budget Control Act of 2011 on August 11, 2011. He made this comment:   For decades now, we have spent too much money on ourselves and have intentionally allowed our […]

Some Tea Party heroes (Part 5)

Rep. Quayle on Fox News with Neil Cavuto __________________ We have to get people realize that the most important issue is the debt!!! Recently I read a comment by Congressman Ben Quayle (R-AZ) made  after voting against the amended Budget Control Act on August 1, 2011. He said it was important to compel “Congressional Democrats and […]

Some Tea Party heroes (Part 4)

What future does our country have if we never even attempt to balance our budget. I read some wise words by Congressman Jeff Landry (R, LA-03) regarding the  debt ceiling deal that was passed on August 1, 2011:”Throughout this debate, the American people have demanded a real cure to America’s spending addiction – a Balanced Budget […]

Some Tea Party heroes (Part 3)

I read some wise comments by Idaho First District Congressman Raúl R. Labrador concerning the passage of the Budget Control Act on August 1, 2011 and I wanted to point them out: “The legislation  lacks a rock solid commitment to passage of a balanced budget amendment, which I believe is necessary to saving our nation.” I just […]

Some Tea Party heroes (Part 2)

Congressmen Tim Huelskamp on the debt ceiling I just don’t understand why people think we can go on and act like everything is okay when we have a trillion dollar deficit. Sometimes you run across some very wise words like I did the other day. Kansas Congressman Tim Huelskamp made the following comment on the […]

By Everette Hatcher III | Posted in President Obama, spending out of control, Taxes | Comments (0)

Open letter to Speaker of the House John Boehner (Part 32)

November 27, 2012 – 12:09 pm

Open letter to Speaker of the House John Boehner (Part 32)

John Boehner, Speaker of the House

H-232, The Capital, Washington, DC 20515

Dear Mr. Speaker,

I know that you will have to meet with newly re-elected President Obama soon and he will probably be anxious for you to raise taxes and  federal spending, but he will want you to leave runaway entitlement programs alone. When that happens then you have one thing you can hold over his head and that is the debt ceiling.

You must stand up to him and tell him that you can not raise it. In December of 2012 or January of 2013 at the latest we will be shutting down the government if we don’t increase the debt limit according to the LA Times. You got to listen to the Tea Party heroes like Rep. Todd Rokita, Ben Quayle (R-AZ), Jeff Landry (R, LA-03), Raúl R. Labrador , Tim Huelskamp,  Rep. Justin Amash (R-MI),  , Brooks, Mo (AL – 5), Buerkle, Ann Marie (NY – 25),Chabot, Steven (OH – 1),Duncan, Jeff (SC – 3), Fleischmann, Chuck (TN – 3) ,Gowdy, Trey (SC – 4) ,Griffith, H. Morgan (VA – 9) , Harris, Andy (MD – 1) ,Huizenga, Bill (MI – 2) , Mulvaney, Mick (SC – 5) , Pompeo, Mike (KS – 4) , Ribble, Reid (WI – 8), Rigell, E. Scott (VA – 2) , Ross, Dennis (FL – 12) ,Schweikert, David (AZ – 5), Scott, Austin (GA – 8) , Scott, Tim (SC – 1) , Southerland, Steve (FL – 2) , Stutzman, Marlin (IN – 3) , Walberg, Timothy (MI – 7) , Walsh, Joe (IL – 8),and Woodall, Rob (GA – 7) .

__________

Here is another Tea Party hero you need to listen to:

King Holds the Line Against Debt Limit Increase

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Congressman King: “The debt limit deal forfeits the mandate House Republicans received last November to ‘hold the line’ on the nation’s debt and spending.”

Washington D.C.- Congressman Steve King (R-IA) released the following statement after voting against legislation considered by the House this afternoon that provides for an increase in the nation’s debt limit. The legislation, S. 365, represents the terms of a deal negotiated between Speaker John Boehner (R-OH), Senator Harry Reid (D-NV), Senator Mitch McConnell (R-KY), and President Barack Obama (D-IL) to increase the nation’s debt limit.

“Because S.365 represents a retreat from fiscal discipline and from the Balanced Budget Amendment, I voted against it,” said King. “S.365’s proposed spending cuts are far too small, and the fact that they are far into the future calls into question whether they will ever actually occur. The bill increases the nation’s debt burden while placing the responsibility of dealing with Washington’s addiction to debt and deficit spending on yet another commission, and on future Congresses and future Presidents.”

“As part of the final deal, S.365 also makes it more difficult for Congress to send a strong Balanced Budget Amendment to the states for ratification. It waters down the strong and specific Balanced Budget Amendment language contained in the ‘Cut, Cap and Balance’ bill. This debt limit deal forfeits the mandate that House Republicans received last November to ‘hold the line’ on the nation’s debt and spending, and I could not support it.

Sincerely,

Everette Hatcher, 13900 Cottontail Lane, Alexander, AR 72002, lowcostsqueegees@yahoo.com, www.thedailyhatch.org, ph 501-920-5733

___________

Related posts:

Government shutdown coming, will there be any tea party heroes available to stand up to Obama?

DEBT LIMIT – A GUIDE TO AMERICAN FEDERAL DEBT MADE EASY. Uploaded by debtlimitusa on Nov 4, 2011 A satirical short film taking a look at the national debt and how it applies to just one family. Watch the guy from the Ferris Bueller Superbowl Spot! Produced by Seth William Meier, DP/Edited by Craig Evans, […]

Some Tea Party heroes (Part 1)

DEBT LIMIT – A GUIDE TO AMERICAN FEDERAL DEBT MADE EASY. Uploaded by debtlimitusa on Nov 4, 2011 A satirical short film taking a look at the national debt and how it applies to just one family. Watch the guy from the Ferris Bueller Superbowl Spot! Produced by Seth William Meier, DP/Edited by Craig Evans, […]

Some Tea Party heroes (Part 8)

Rep Himes and Rep Schweikert Discuss the Debt and Budget Deal Michael Tanner of the Cato Institute in his article, “Hitting the Ceiling,” National Review Online, March 7, 2012 noted: After all, despite all the sturm und drang about spending cuts as part of last year’s debt-ceiling deal, federal spending not only increased from 2011 […]

Some Tea Party heroes (Part 7)

Michael Tanner of the Cato Institute in his article, “Hitting the Ceiling,” National Review Online, March 7, 2012 noted: After all, despite all the sturm und drang about spending cuts as part of last year’s debt-ceiling deal, federal spending not only increased from 2011 to 2012, it rose faster than inflation and population growth combined. […]

Who are the Tea Party Heroes from the 87 Freshmen Republicans?

Here is a study done on the votes of the 87 incoming freshman republicans frm the Club for Growth. Freshman Vote Study In the 2010 election, 87 freshmen House Republicans came to Washington pledging fealty to the Tea Party movement and the ideals of limited government and economic freedom. The mainstream media likes to say […]

Tea Party Conservative Senator Mike Lee interview

Tea Party Conservative Senator Mike Lee interview Here is an excellent interview above with Senator Lee with a fine article below from the Heritage Foundation. Sen. Mike Lee (R-UT) came to Washington as the a tea-party conservative with the goal of fixing the economy, addressing the debt crisis and curbing the growth of the federal […]

Some Tea Party heroes (Part 6)

I feel so strongly about the evil practice of running up our national debt. I was so proud of Rep. Todd Rokita who voted against the Budget Control Act of 2011 on August 11, 2011. He made this comment:   For decades now, we have spent too much money on ourselves and have intentionally allowed our […]

Some Tea Party heroes (Part 5)

Rep. Quayle on Fox News with Neil Cavuto __________________ We have to get people realize that the most important issue is the debt!!! Recently I read a comment by Congressman Ben Quayle (R-AZ) made  after voting against the amended Budget Control Act on August 1, 2011. He said it was important to compel “Congressional Democrats and […]

Some Tea Party heroes (Part 4)

What future does our country have if we never even attempt to balance our budget. I read some wise words by Congressman Jeff Landry (R, LA-03) regarding the  debt ceiling deal that was passed on August 1, 2011:”Throughout this debate, the American people have demanded a real cure to America’s spending addiction – a Balanced Budget […]

Some Tea Party heroes (Part 3)

I read some wise comments by Idaho First District Congressman Raúl R. Labrador concerning the passage of the Budget Control Act on August 1, 2011 and I wanted to point them out: “The legislation  lacks a rock solid commitment to passage of a balanced budget amendment, which I believe is necessary to saving our nation.” I just […]

Some Tea Party heroes (Part 2)

Congressmen Tim Huelskamp on the debt ceiling I just don’t understand why people think we can go on and act like everything is okay when we have a trillion dollar deficit. Sometimes you run across some very wise words like I did the other day. Kansas Congressman Tim Huelskamp made the following comment on the […]

By Everette Hatcher III | Posted in President Obama, spending out of control, Taxes | Comments (0)

“THIRSTY THURSDAY” open letters to Senator Pryor displayed here on the www.thedailyhatch.org

November 27, 2012 – 12:08 pm

For almost a year now I have been writing an open letter to Senator Mark Pryor every week in what I call “Thirsty Thursday” because the government is always thirsty for more of our money and the only way to stop it is to pass the BALANCED BUDGET AMENDMENT!!!!! I have electronically sent all of these letters to him before I post them on the blog. Below are some of the links. Check them out:

Dear Senator Pryor,

Why not pass the Balanced Budget Amendment? As you know that federal deficit is at all time high (1.6 trillion deficit with revenues of 2.2 trillion and spending at 3.8 trillion).

On my blog www.HaltingArkansasLiberalswithTruth.com I took you at your word and sent you over 100 emails with specific spending cut ideas. However, I did not see any of them in the recent debt deal that Congress adopted. Now I am trying another approach. Every week from now on I will send you an email explaining different reasons why we need the Balanced Budget Amendment. It will appear on my blog on “Thirsty Thursday” because the government is always thirsty for more money to spend.

In this paper below you will read:

America cannot raise taxes to continue overspending, because tax hikes shrink our economy and grow our government. America cannot borrow more to continue overspending, because borrowing puts an enormous financial burden on the American children of tomorrow. A BBA will help address this long-term problem because, after the multi-year process for securing ratification of the BBA by three-quarters of the states, the BBA will keep federal spending under control in subsequent years.

Washington has not been able to cut spending so the BBA is needed to force Washington to do the right thing. Your father David Pryor was the governor of Arkansas and he knew what it meant to have a balanced budget by mandate.

Thank you again for this opportunity to share my ideas with you.

Sincerely,

Everette Hatcher, lowcostsqueegees@yahoo.com

Balanced Budget Amendment: Cut Spending Later, Cut Spending Now

March 31, 2011

 

Two key principles should govern congressional consideration of an amendment to the U.S. Constitution that requires the federal government to balance its budget:

  • First Principle: A Balanced Budget Amendment (BBA) is important to help bring long-term fiscal responsibility to America’s future when the BBA takes effect after ratification by three-quarters of the state legislatures; it is equally important for Congress to cut spending nowto address the current overspending crisis.
  • Second Principle: An effective BBA will include three elements to: (a) control spending, taxation, and borrowing, (b) ensure the defense of America, and (c) enforce the requirement to balance the budget.

Cuts for the Future, Cuts for the Present

Federal spending is out of control—both obligations for the future and spending right now.

Congress must get spending under control in the long term. America cannot raise taxes to continue overspending, because tax hikes shrink our economy and grow our government. America cannot borrow more to continue overspending, because borrowing puts an enormous financial burden on the American children of tomorrow. A BBA will help address this long-term problem because, after the multi-year process for securing ratification of the BBA by three-quarters of the states, the BBA will keep federal spending under control in subsequent years.

Congress also must get spending under control in the short term. Federal overspending is not simply about the future, but also about the present. Under the President’s Fiscal Year 2012 Budget Submission, measured by the Congressional Budget Office, the federal government will spend $1.2 trillion more than it will take in, a gargantuan burden of additional debt forced on future generations to pay current bills.

Thus, America needs both a Balanced Budget Amendment for the long term and deep cuts in federal spending starting right now, without waiting for a BBA to take effect. As Congress considers budget resolutions, appropriations bills, appropriations continuing resolutions, and debt limit bills, Congress should take every opportunity now to cut federal spending, including for the biggest overspending problem: the ever-growing entitlement programs.

Congress should recognize that the best way to encourage state legislatures to ratify a BBA is to demonstrate, through consistent congressional cuts in spending, that the American people have the will to accept spending cuts to balance the budget.

Elements of a Successful Balanced Budget Amendment

A successful BBA will:

  • Control spending, taxing, and borrowing through a requirement to balance the budget.The BBA should cap annual spending at a level not exceeding either: (a) a specified percentage of the value of goods and services the economy produces in a year (known as gross domestic product, or GDP), or (b) the level of revenues. To ensure that Congress cannot simply balance the budget by continually raising taxes instead of cutting overspending, the BBA should require Congress to act by supermajority votes if Members wish to raise taxes. Any authority the BBA grants Congress to deal with economic slowdowns, by waiving temporarily the requirement that spending not exceed the GDP percentage or revenue level, should specify the amount of above-revenue spending allowed and require supermajority votes.
  • Defend America. The BBA should allow Congress by supermajority votes to waive temporarily compliance with the balanced budget requirement when waiver is essential to pay for the defense of Americans from attack.
  • Enforce the balanced budget requirement. The BBA should provide for its own enforcement, but must specifically exclude courts from any enforcement of the BBA, so unelected judges do not make policy decisions such as determining the appropriate level of funding for federal programs. A government that spends money in excess of its revenues must borrow to cover the difference. Therefore, to enforce the requirement to balance the budget, the BBA should prohibit government issuance of debt, except when necessary to finance a temporary deficit resulting from congressional supermajority votes discussed above.

America is in a fiscal crisis. Our government spends too much. Overspending must stop immediately. Overspending will stop only if Congress cuts spending now, including with respect to the ever-expanding entitlement programs. For the future, Congress and three-quarters of state legislatures can adopt and ratify a Balanced Budget Amendment to the U.S. Constitution to anchor the American willingness to live within a balanced budget.

David S. Addington is Vice President for Domestic and Economic Policy, and J. D. Foster, Ph.D., is Norman B. Ture Senior Fellow in the Economics of Fiscal Policy, at The Heritage Foundation.

Dear Senator Pryor, why not pass the Balanced Budget Amendment? (“Thirsty Thursday”, Open letter to Senator Pryor)

Dear Senator Pryor, Why not pass the Balanced  Budget amendment? As you know that federal deficit is at all time high (1.6 trillion deficit with revenues of 2.2 trillion and spending at 3.8 trillion). On my blog http://www.HaltingArkansasLiberalswithTruth.com I took you at your word and sent you over 100 emails with specific spending cut ideas. However, […]

Dear Senator Pryor, why not pass the Balanced Budget Amendment? (“Thirsty Thursday”, Open letter to Senator Pryor)

Dear Senator Pryor, Why not pass the Balanced  Budget Amendment? As you know that federal deficit is at all time high (1.6 trillion deficit with revenues of 2.2 trillion and spending at 3.8 trillion). On my blog http://www.HaltingArkansasLiberalswithTruth.com I took you at your word and sent you over 100 emails with specific spending cut ideas. However, […]

Dear Senator Pryor, why not pass the Balanced Budget Amendment? ( “Thirsty Thursday,” Open letter to Senator Pryor)

Dear Senator Pryor, Why not pass the Balanced Budget Amendment? As you know that federal deficit is at all time high (1.6 trillion deficit with revenues of 2.2 trillion and spending at 3.8 trillion). On my blog www.HaltingArkansasLiberalswithTruth.com I took you at your word and sent you over 100 emails with specific spending cut ideas. However, I did […]

Dear Senator Pryor, why not pass the Balanced Budget Amendment? ( “Thirsty Thursday,” Open letter to Senator Pryor)

Dear Senator Pryor, Why not pass the Balanced  Budget Amendment? As you know that federal deficit is at all time high (1.6 trillion deficit with revenues of 2.2 trillion and spending at 3.8 trillion). On my blog www.HaltingArkansasLiberalswithTruth.com I took you at your word and sent you over 100 emails with specific spending cut ideas. However, I did […]

Dear Senator Pryor, why not pass the Balanced Budget Amendment? ( “Thirsty Thursday,” Open letter to Senator Pryor)

Dear Senator Pryor,  Why not pass the Balanced Budget Amendment? As you know that federal deficit is at all time high (1.6 trillion deficit with revenues of 2.2 trillion and spending at 3.8 trillion). On my blog www.HaltingArkansasLiberalswithTruth.com I took you at your word and sent you over 100 emails with specific spending cut ideas. However, I did […]

Dear Senator Pryor, why not pass the Balanced Budget Amendment? (“Thirsty Thursday,” Open letter to Senator Pryor)

Dear Senator Pryor, Why not pass the Balanced Budget Amendment? As you know that federal deficit is at all time high (1.6 trillion deficit with revenues of 2.2 trillion and spending at 3.8 trillion). On my blog www.HaltingArkansasLiberalswithTruth.com I took you at your word and sent you over 100 emails with specific spending cut ideas. However, I did […]

Dear Senator Pryor, why not pass the Balanced Budget Amendment? ( “Thirsty Thursday,” Open letter to Senator Pryor)

Dear Senator Pryor, Why not pass the Balanced Budget Amendment? As you know that federal deficit is at all time high (1.6 trillion deficit with revenues of 2.2 trillion and spending at 3.8 trillion). On my blog www.HaltingArkansasLiberalswithTruth.com I took you at your word and sent you over 100 emails with specific spending cut ideas. However, I did […]

Dear Senator Pryor, why not pass the Balanced Budget Amendment? ( “Thirsty Thursday,” Open letter to Senator Pryor)

Dear Senator Pryor, Why not pass the Balanced Budget Amendment? As you know that federal deficit is at all time high (1.6 trillion deficit with revenues of 2.2 trillion and spending at 3.8 trillion). On my blog www.HaltingArkansasLiberalswithTruth.com I took you at your word and sent you over 100 emails with specific spending cut ideas. However, I did […]

By Everette Hatcher III | Posted in spending out of control | Comments (0)

Listing of transcripts and videos of Free to Choose by Milton Friedman: Episode “What is wrong with our schools?” on www.theDailyHatch.org

November 27, 2012 – 12:07 pm

Everywhere school vouchers have been tried they have been met with great success. Why do you think President Obama got rid of them in Washington D.C.? It was a political disaster for him because the school unions had always opposed them and their success made Obama’s allies look bad.

In 1980 when I first sat down and read the book “Free to Choose” I was involved in Ronald Reagan’s campaign for president and excited about the race. Milton Friedman’s books and film series really helped form my conservative views. Take a look at one of my favorite films of his and this one deals with school vouchers:

Here is the video clip and transcript of the film series FREE TO CHOOSE episode “What is wrong with our schools?” Part 1 of 6.

 
Volume 6 – What’s Wrong with our Schools
Transcript:
Friedman: These youngsters are beginning another day at one of America’s public schools, Hyde Park High School in Boston. What happens when they pass through those doors is a vivid illustration of some of the problems facing America’s schools.
They have to pass through metal detectors. They are faced by security guards looking for hidden weapons. They are watched over by armed police. Isn’t that awful. What a way for kids to have to go to school, through metal detectors and to be searched. What can they conceivably learn under such circumstances. Nobody is happy with this kind of education. The taxpayers surely aren’t. This isn’t cheap education. After all, those uniformed policemen, those metal detectors have to be paid for.
What about the broken windows, the torn school books, and the smashed school equipment. The teachers who teach here don’t like this kind of situation. The students don’t like to come here to go to school, and most of all, the parents __ they are the ones who get the worst deal __ they pay taxes like the rest of us and they are just as concerned about the kind of education that their kids get as the rest of us are. They know their kids are getting a bad education but they feel trapped. Many of them can see no alternative but to continue sending their kids to schools like this.
To go back to the beginning, it all started with the fine idea that every child should have a chance to learn his three R’s. Sometimes in June when it gets hot, the kids come out in the yard to do their lessons, all 15 of them, ages 5 to 13, along with their teacher. This is the last one-room schoolhouse still operating in the state of Vermont. That is the way it used to be. Parental control, parents choosing the teacher, parents monitoring the schooling, parents even getting together and chipping in to paint the schoolhouse as they did here just a few weeks ago. Parental concern is still here as much in the slums of the big cities as in Bucolic, Vermont. But control by parents over the schooling of their children is today the exception, not the rule.
Increasingly, schools have come under the control of centralized administration, professional educators deciding what shall be taught, who shall do the teaching, and even what children shall go to what school. The people who lose most from this system are the poor and the disadvantaged in the large cities. They are simply stuck. They have no alternative.
Of course, if you are well off you do have a choice. You can send your child to a private school or you can move to an area where the public schools are excellent, as the parents of many of these students have done. These students are graduating from Weston High School in one of Boston’s wealthier suburbs. Their parents pay taxes instead of tuition and they certainly get better value for their money than do the parents in Hyde Park. That is partly because they have kept a good deal of control over the local schools, and in the process, they have managed to retain many of the virtues of the one-room schoolhouse.
Students here, like Barbara King, get the equivalent of a private education. They have excellent recreational facilities. They have a teaching staff that is dedicated and responsive to parents and students. There is an atmosphere which encourages learning, yet the cost per pupil here is no higher than in many of our inner city schools. The difference is that at Weston, it all goes for education that the parents still retain a good deal of control.
Unfortunately, most parents have lost control over how their tax money in spent. Avabelle goes to Hyde Park High. Her parents too want her to have a good education, but many of the students here are not interested in schooling, and the teachers, however dedicated, soon lose heart in an atmosphere like this. Avabelle’s parents are certainly not getting value for their tax money.
Caroline Bell, Parent: I think it is a shame, really, that parents are being ripped off like we are. I am talking about parents like me that work every day, scuffle to try to make ends meet. We send our kids to school hoping that they will receive something that will benefit them in the future for when they go out here and compete in the job market. Unfortunately, none of that is taking place at Hyde Park.
Friedman: Children like Ava are being shortchanged by a system that was designed to help. But there are ways to help give parents more say over their children’s schooling.
This is a fundraising evening for a school supported by a voluntary organization, New York’s Inner City Scholarship Fund. The prints that have brought people here have been loaned by wealthy Japanese industrialist. Events like this have helped raise two million dollars to finance Catholic parochial schools in New York. The people here are part of a long American tradition. The results of their private voluntary activities have been remarkable.
This is one of the poorest neighborhoods in New York City: the Bronx. Yet this parochial school, supported by the fund, is a joy to visit. The youngsters here from poor families are at Saint John Christians because their parents have picked this school and their parents are paying some of the costs from their own pockets. The children are well behaved, eager to learn, the teachers are dedicated. The cost per pupil here is far less than in the public schools, yet on the average the children are two grades ahead. That is because teachers and parents are free to choose how the children shall be taught. Private money has replaced the tax money and so control has been taken away from the bureaucrats and put back where it belongs.
This doesn’t work just for younger children. In the 60’s, Harlem was devastated by riots. It was a hot bed of trouble. Many teenagers dropped out of school.
_____
 
 
Milton Friedman congratulated by President Ronald Reagan. © 2008 Free To Choose Media, courtesy of the Power of Choice press kit

Here are some great jobs about Milton Friedman:

“Milton Friedman is a scholar of first rank whose original contributions to economic science have made him one of the greatest thinkers in modern history.”
—President Ronald Reagan

“How grateful I have been over the years for the cogency of Friedman’s ideas which have influenced me. Cherishers of freedom will be indebted to him for generations to come.”
—Alan Greenspan, former Chairman, Federal Reserve System

“Right at this moment there are people all over the land, I could put dots on the map, who are trying to prove Milton wrong. At some point, somebody else is trying to prove he’s right That’s what I call influence.”
—Paul Samuelson, Nobel Laureate in Economic Science

“Friedman’s influence reaches far beyond the academic community and the world of economics. Rather than lock himself in an ivory tower, he has joined the fray to fight for the survival of this great country of ours.”
—William E. Simon, former Secretary of the Treasury

“Milton Friedman is the most original social thinker of the era.”
—John Kenneth Galbraith, former Professor of Economics, Harvard University

Other segments: 

Friedman Friday” Free to Choose by Milton Friedman: Episode “What is wrong with our schools?” (Part 6 of transcript and video)

Here is the video clip and transcript of the film series FREE TO CHOOSE episode “What is wrong with our schools?” Part 6 of 6.   Volume 6 – What’s Wrong with our Schools Transcript: FRIEDMAN: But I personally think it’s a good thing. But I don’t see that any reason whatsoever why I shouldn’t have been required […]

Friedman Friday” Free to Choose by Milton Friedman: Episode “What is wrong with our schools?” (Part 5 of transcript and video)

Here is the video clip and transcript of the film series FREE TO CHOOSE episode “What is wrong with our schools?” Part 5 of 6.   Volume 6 – What’s Wrong with our Schools Transcript: Are your voucher schools  going to accept these tough children? COONS: You bet they are. (Several talking at once.) COONS: May I answer […]

 

Friedman Friday” Free to Choose by Milton Friedman: Episode “What is wrong with our schools?” (Part 3 of transcript and video)

Friedman Friday” Free to Choose by Milton Friedman: Episode “What is wrong with our schools?” (Part 3 of transcript and video) Here is the video clip and transcript of the film series FREE TO CHOOSE episode “What is wrong with our schools?” Part 3 of 6.   Volume 6 – What’s Wrong with our Schools Transcript: If it […]

Friedman Friday” Free to Choose by Milton Friedman: Episode “What is wrong with our schools?” (Part 2 of transcript and video)

Here is the video clip and transcript of the film series FREE TO CHOOSE episode “What is wrong with our schools?” Part 2 of 6.   Volume 6 – What’s Wrong with our Schools Transcript: Groups of concerned parents and teachers decided to do something about it. They used private funds to take over empty stores and they […]

Friedman Friday” Free to Choose by Milton Friedman: Episode “What is wrong with our schools?” (Part 1 of transcript and video)

Here is the video clip and transcript of the film series FREE TO CHOOSE episode “What is wrong with our schools?” Part 1 of 6.   Volume 6 – What’s Wrong with our Schools Transcript: Friedman: These youngsters are beginning another day at one of America’s public schools, Hyde Park High School in Boston. What happens when […]

By Everette Hatcher III | Posted in Milton Friedman, Vouchers | Comments (0)

Open letter to Speaker of the House John Boehner (Part 31)

November 27, 2012 – 12:07 pm

Open letter to Speaker of the House John Boehner (Part 31)

John Boehner, Speaker of the House

H-232, The Capital, Washington, DC 20515

Dear Mr. Speaker,

I know that you will have to meet with newly re-elected President Obama soon and he will probably be anxious for you to raise taxes and  federal spending, but he will want you to leave runaway entitlement programs alone. When that happens then you have one thing you can hold over his head and that is the debt ceiling.

You must stand up to him and tell him that you can not raise it. In December of 2012 or January of 2013 at the latest we will be shutting down the government if we don’t increase the debt limit according to the LA Times. You got to listen to the Tea Party heroes like Rep. Todd Rokita, Ben Quayle (R-AZ), Jeff Landry (R, LA-03), Raúl R. Labrador , Tim Huelskamp,  Rep. Justin Amash (R-MI),  , Brooks, Mo (AL – 5), Buerkle, Ann Marie (NY – 25),Chabot, Steven (OH – 1),Duncan, Jeff (SC – 3), Fleischmann, Chuck (TN – 3) ,Gowdy, Trey (SC – 4) ,Griffith, H. Morgan (VA – 9) , Harris, Andy (MD – 1) ,Huizenga, Bill (MI – 2) , Mulvaney, Mick (SC – 5) , Pompeo, Mike (KS – 4) , Ribble, Reid (WI – 8), Rigell, E. Scott (VA – 2) , Ross, Dennis (FL – 12) ,Schweikert, David (AZ – 5), Scott, Austin (GA – 8) , Scott, Tim (SC – 1) , Southerland, Steve (FL – 2) , Stutzman, Marlin (IN – 3) , Walberg, Timothy (MI – 7) , Walsh, Joe (IL – 8),and Woodall, Rob (GA – 7) .

__________

Here is another Tea Party hero you need to listen to:

LATHAM STATEMENT ON HIS ‘NO’ VOTE AGAINST DEBT CEILING MEASURE


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Washington, Jul 28 – Iowa Congressman Tom Latham released the following statement on Friday after voting against S. 627 in the U.S. House of Representatives:

“Throughout this year, the national discussion has been dominated by the need to change Washington’s spending ways.  I, as many Americans do, fear that this talk is truly just talk.  A good case in point is President Obama’s 2012 budget.  When he introduced this budget he used these strong words, “We simply cannot continue to spend as if deficits don’t have consequences; as if waste doesn’t matter; as if the hard-earned tax dollars of the American people can be treated like Monopoly money; as if we can ignore this challenge for another generation.  We can’t.”  But a review of the President’s budget shows that his words are nothing more than just talk about changing the culture of spending because that budget adds an additional $9.5 trillion dollars to our debt.   

“I have been very clear in our debate about spending that I will only support measures that meet the criteria of immediately cutting wasteful spending, imposing spending caps as a percentage of our economy going forward, and requiring a balanced budget amendment.  We simply can’t keep giving Washington permission in the form of a blank check to continue to spend beyond its means.

“As neither the President nor the Senate have yet to offer one specific proposal, I applaud the House Republican leadership for taking the initiative on the national debt limit and spending restraint debate by actually offering real proposals, discussions and votes in an effort to move this process forward and meet the President’s declared default deadline of August 2nd.  

“Unfortunately, while this measure heads in the right direction, it falls short of the criteria I feel must be met in order to gain my support and vote.

“This bill gives the government permission to continue the destructive spending and borrowing policies that have created waves of uncertainty throughout our economy without the real guarantees we need to force Washington to do as Iowa families, farmers and small businesses do – live and spend within its means.

“I share the growing frustration and anger the American people have over this debate and fractured process.  And I continue to pledge to work with any members of the House or Senate who are willing to join me to move our country forward with a solution that gives the American people the peace of mind of a common-sense, enforceable solution.  This is our responsibility as elected leaders to do nothing short of putting this nation on the path towards fiscal sanity and responsibility without risking default on our debt and other obligations.”

 

Sincerely,

Everette Hatcher, 13900 Cottontail Lane, Alexander, AR 72002, lowcostsqueegees@yahoo.com, www.thedailyhatch.org, ph 501-920-5733

___________

Related posts:

Government shutdown coming, will there be any tea party heroes available to stand up to Obama?

DEBT LIMIT – A GUIDE TO AMERICAN FEDERAL DEBT MADE EASY. Uploaded by debtlimitusa on Nov 4, 2011 A satirical short film taking a look at the national debt and how it applies to just one family. Watch the guy from the Ferris Bueller Superbowl Spot! Produced by Seth William Meier, DP/Edited by Craig Evans, […]

Some Tea Party heroes (Part 1)

DEBT LIMIT – A GUIDE TO AMERICAN FEDERAL DEBT MADE EASY. Uploaded by debtlimitusa on Nov 4, 2011 A satirical short film taking a look at the national debt and how it applies to just one family. Watch the guy from the Ferris Bueller Superbowl Spot! Produced by Seth William Meier, DP/Edited by Craig Evans, […]

Some Tea Party heroes (Part 8)

Rep Himes and Rep Schweikert Discuss the Debt and Budget Deal Michael Tanner of the Cato Institute in his article, “Hitting the Ceiling,” National Review Online, March 7, 2012 noted: After all, despite all the sturm und drang about spending cuts as part of last year’s debt-ceiling deal, federal spending not only increased from 2011 […]

Some Tea Party heroes (Part 7)

Michael Tanner of the Cato Institute in his article, “Hitting the Ceiling,” National Review Online, March 7, 2012 noted: After all, despite all the sturm und drang about spending cuts as part of last year’s debt-ceiling deal, federal spending not only increased from 2011 to 2012, it rose faster than inflation and population growth combined. […]

Who are the Tea Party Heroes from the 87 Freshmen Republicans?

Here is a study done on the votes of the 87 incoming freshman republicans frm the Club for Growth. Freshman Vote Study In the 2010 election, 87 freshmen House Republicans came to Washington pledging fealty to the Tea Party movement and the ideals of limited government and economic freedom. The mainstream media likes to say […]

Tea Party Conservative Senator Mike Lee interview

Tea Party Conservative Senator Mike Lee interview Here is an excellent interview above with Senator Lee with a fine article below from the Heritage Foundation. Sen. Mike Lee (R-UT) came to Washington as the a tea-party conservative with the goal of fixing the economy, addressing the debt crisis and curbing the growth of the federal […]

Some Tea Party heroes (Part 6)

I feel so strongly about the evil practice of running up our national debt. I was so proud of Rep. Todd Rokita who voted against the Budget Control Act of 2011 on August 11, 2011. He made this comment:   For decades now, we have spent too much money on ourselves and have intentionally allowed our […]

Some Tea Party heroes (Part 5)

Rep. Quayle on Fox News with Neil Cavuto __________________ We have to get people realize that the most important issue is the debt!!! Recently I read a comment by Congressman Ben Quayle (R-AZ) made  after voting against the amended Budget Control Act on August 1, 2011. He said it was important to compel “Congressional Democrats and […]

Some Tea Party heroes (Part 4)

What future does our country have if we never even attempt to balance our budget. I read some wise words by Congressman Jeff Landry (R, LA-03) regarding the  debt ceiling deal that was passed on August 1, 2011:”Throughout this debate, the American people have demanded a real cure to America’s spending addiction – a Balanced Budget […]

Some Tea Party heroes (Part 3)

I read some wise comments by Idaho First District Congressman Raúl R. Labrador concerning the passage of the Budget Control Act on August 1, 2011 and I wanted to point them out: “The legislation  lacks a rock solid commitment to passage of a balanced budget amendment, which I believe is necessary to saving our nation.” I just […]

Some Tea Party heroes (Part 2)

Congressmen Tim Huelskamp on the debt ceiling I just don’t understand why people think we can go on and act like everything is okay when we have a trillion dollar deficit. Sometimes you run across some very wise words like I did the other day. Kansas Congressman Tim Huelskamp made the following comment on the […]

By Everette Hatcher III | Posted in President Obama, spending out of control, Taxes | Comments (1)

“Woody Allen Wednesdays” can be seen on the www.thedailyhatch.org

November 27, 2012 – 12:05 pm

Crimes and Misdemeanors: A Discussion: Part 1

If you like Woody Allen films as much as I do then join me every Wednesday for another look the man and his movies. Below are some of the posts from the past:

“Woody Wednesday” How Allen’s film “Crimes and Misdemeanors makes the point that hell is necessary (jh 14)

Crimes and Misdemeanors: A Discussion: Part 1 Adrian Rogers – Crossing God’s Deadline Part 2 Jason Tolbert provided this recent video from Mike Huckabee: John Brummett in his article “Huckabee speaks for bad guy below,” Arkansas News Bureau, May 5, 2011 had to say: Are we supposed to understand and accept that Mike Huckabee is […]

According to Woody Allen Life is meaningless (Woody Wednesday)

Woody Allen, the film writer, director, and actor, has consistently populated his scripts with characters who exchange dialogue concerning meaning and purpose. In Hannah and Her Sisters a character named Mickey says, “Do you realize what a thread were all hanging by? Can you understand how meaningless everything is? Everything. I gotta get some answers.”{7} […]

“Midnight in Paris” wins academy award “Woody Wednesday”

Bananas (1971)    en cast ex-wife, Louise Lasser (the duo were married from 1966 to 1969), as his romantic lead in this quirky comedy. When asked why he chose to title the movie Bananas, Allen quipped, “Because there are no bananas in it.”  “Midnight in Paris” is one of Woody Allen best works. Woody Allen […]

Woody Wednesday” Will Allen and Martin follow same path as Kansas to Christ?

Several members of the 70′s band Kansas became committed Christians after they realized that the world had nothing but meaningless to offer. It seems through the writings of both Woody Allen and Chris Martin of Coldplay that they both are wrestling with the issue of death and what meaning does life bring. Kansas went through […]

Why am I obsessed with Woody Allen?

I guess the reason I have spent so much time on Woody Allen is because in so many films he discusses the big questions in life. His movie “Crimes and Misdemeanors” is a perfect example. Check out my earlier post Nihilism can be seen in Woody Allen’s latest film “Midnight in Paris” . September (1987) The director […]

Woody Allen films and the issue of guilt (Woody Wednesday)

Woody Allen and the Abandonment of Guilt Dr. Marc T. Newman : AgapePress Print In considering filmmaking as a pure visual art form, Woody Allen would have to be considered a master of the medium. From his humble beginnings as a comedy writer and filmmaker, he has emerged as a major influential force in Hollywood. […]

“Midnight in Paris” has become Woody Allen’s most successful movie at box office (Woody Wednesdays)

The dvd sales of “Midnight in Paris” which went on sale in December have gone through the roof (look at the bottom of this post) and this summer we learned this fact below: ‘Midnight in Paris’ becomes Woody Allen’s all-time biggest hit. How the heck did that happen? by Owen Gleiberman Categories: Annie Hall, Bridesmaids, […]

Agnostic Allen notes, “The people who successfully delude themselves seem happier than the people who can’t” (Woody Wednesday)

Woody Allen interviews Billy Graham on Religion This article below makes we think of the lady tied to the Railroad in the Schaeffer video. Dr. Francis schaeffer – The flow of Materialism (Modern man sees no hope for the future and has deluded himself by appealing to nonreason to stay sane. Look at the example […]

Woody Allen interviews Billy Graham (Woody Wednesday)

A surprisingly civil discussion between evangelical Billy Graham and agnostic comedian Woody Allen. Skip to 2:00 in the video to hear Graham discuss premarital sex, to 4:30 to hear him respond to Allen’s question about the worst sin and to 7:55 for the comparison between accepting Christ and taking LSD. ___________________ The Christian Post > […]

“Woody Wednesday” Allen acts silly in 1971 interview (Part 4)

“Woody Wednesday” Allen acts silly in 1971 interview (Part 4) Woody Allen interview 1971 PART 4/4 Uploaded by captainvontrapp on Jul 21, 2008 Woody Allen interview from 1971, just after the worldwide release of ‘Bananas’ ________________________ David Mishkin God and Carpeting: The Theology of Woody Allen by David Mishkin March 1, 1993 This is an […]

 

By Everette Hatcher III | Posted in Current Events | Comments (0)

Open letter to Speaker of the House John Boehner (Part 30)

November 27, 2012 – 12:05 pm

Open letter to Speaker of the House John Boehner (Part 30)

John Boehner, Speaker of the House

H-232, The Capital, Washington, DC 20515

Dear Mr. Speaker,

I know that you will have to meet with newly re-elected President Obama soon and he will probably be anxious for you to raise taxes and  federal spending, but he will want you to leave runaway entitlement programs alone. When that happens then you have one thing you can hold over his head and that is the debt ceiling.

You must stand up to him and tell him that you can not raise it. In December of 2012 or January of 2013 at the latest we will be shutting down the government if we don’t increase the debt limit according to the LA Times. You got to listen to the Tea Party heroes like Rep. Todd Rokita, Ben Quayle (R-AZ), Jeff Landry (R, LA-03), Raúl R. Labrador , Tim Huelskamp,  Rep. Justin Amash (R-MI),  , Brooks, Mo (AL – 5), Buerkle, Ann Marie (NY – 25),Chabot, Steven (OH – 1),Duncan, Jeff (SC – 3), Fleischmann, Chuck (TN – 3) ,Gowdy, Trey (SC – 4) ,Griffith, H. Morgan (VA – 9) , Harris, Andy (MD – 1) ,Huizenga, Bill (MI – 2) , Mulvaney, Mick (SC – 5) , Pompeo, Mike (KS – 4) , Ribble, Reid (WI – 8), Rigell, E. Scott (VA – 2) , Ross, Dennis (FL – 12) ,Schweikert, David (AZ – 5), Scott, Austin (GA – 8) , Scott, Tim (SC – 1) , Southerland, Steve (FL – 2) , Stutzman, Marlin (IN – 3) , Walberg, Timothy (MI – 7) , Walsh, Joe (IL – 8),and Woodall, Rob (GA – 7) .

__________

Here is another Tea Party hero you need to listen to:

Congressman Yoder Votes Against $2.4 Trillion Increase to National Debt

 For Immediate Release

August 1, 2011

Congressman Yoder Votes Against $2.4 Trillion Increase to Our National Debt

“Today I voted against a $2.4 Trillion increase in our national debt.  I believe we missed an opportunity for historic spending reform in Washington and that we have once again passed our problems on to another day.  Although I commend our leaders for working out a temporary solution against choppy political waters, I could not join in an effort that did not solve the problems that got us in to this spot in the first place.  To borrow a phrase, I was not persuaded by the logic that Congress would gladly pay Tuesday for a hamburger today.  I look forward to many future efforts to join my colleagues on both sides of the aisle as we continue to work towards growing the economy, spurring job creation and fiscal reform that that will combat the national debt.”

Sincerely,

Everette Hatcher, 13900 Cottontail Lane, Alexander, AR 72002, lowcostsqueegees@yahoo.com, www.thedailyhatch.org, ph 501-920-5733

___________

Related posts:

Government shutdown coming, will there be any tea party heroes available to stand up to Obama?

DEBT LIMIT – A GUIDE TO AMERICAN FEDERAL DEBT MADE EASY. Uploaded by debtlimitusa on Nov 4, 2011 A satirical short film taking a look at the national debt and how it applies to just one family. Watch the guy from the Ferris Bueller Superbowl Spot! Produced by Seth William Meier, DP/Edited by Craig Evans, […]

Some Tea Party heroes (Part 1)

DEBT LIMIT – A GUIDE TO AMERICAN FEDERAL DEBT MADE EASY. Uploaded by debtlimitusa on Nov 4, 2011 A satirical short film taking a look at the national debt and how it applies to just one family. Watch the guy from the Ferris Bueller Superbowl Spot! Produced by Seth William Meier, DP/Edited by Craig Evans, […]

Some Tea Party heroes (Part 8)

Rep Himes and Rep Schweikert Discuss the Debt and Budget Deal Michael Tanner of the Cato Institute in his article, “Hitting the Ceiling,” National Review Online, March 7, 2012 noted: After all, despite all the sturm und drang about spending cuts as part of last year’s debt-ceiling deal, federal spending not only increased from 2011 […]

Some Tea Party heroes (Part 7)

Michael Tanner of the Cato Institute in his article, “Hitting the Ceiling,” National Review Online, March 7, 2012 noted: After all, despite all the sturm und drang about spending cuts as part of last year’s debt-ceiling deal, federal spending not only increased from 2011 to 2012, it rose faster than inflation and population growth combined. […]

Who are the Tea Party Heroes from the 87 Freshmen Republicans?

Here is a study done on the votes of the 87 incoming freshman republicans frm the Club for Growth. Freshman Vote Study In the 2010 election, 87 freshmen House Republicans came to Washington pledging fealty to the Tea Party movement and the ideals of limited government and economic freedom. The mainstream media likes to say […]

Tea Party Conservative Senator Mike Lee interview

Tea Party Conservative Senator Mike Lee interview Here is an excellent interview above with Senator Lee with a fine article below from the Heritage Foundation. Sen. Mike Lee (R-UT) came to Washington as the a tea-party conservative with the goal of fixing the economy, addressing the debt crisis and curbing the growth of the federal […]

Some Tea Party heroes (Part 6)

I feel so strongly about the evil practice of running up our national debt. I was so proud of Rep. Todd Rokita who voted against the Budget Control Act of 2011 on August 11, 2011. He made this comment:   For decades now, we have spent too much money on ourselves and have intentionally allowed our […]

Some Tea Party heroes (Part 5)

Rep. Quayle on Fox News with Neil Cavuto __________________ We have to get people realize that the most important issue is the debt!!! Recently I read a comment by Congressman Ben Quayle (R-AZ) made  after voting against the amended Budget Control Act on August 1, 2011. He said it was important to compel “Congressional Democrats and […]

Some Tea Party heroes (Part 4)

What future does our country have if we never even attempt to balance our budget. I read some wise words by Congressman Jeff Landry (R, LA-03) regarding the  debt ceiling deal that was passed on August 1, 2011:”Throughout this debate, the American people have demanded a real cure to America’s spending addiction – a Balanced Budget […]

Some Tea Party heroes (Part 3)

I read some wise comments by Idaho First District Congressman Raúl R. Labrador concerning the passage of the Budget Control Act on August 1, 2011 and I wanted to point them out: “The legislation  lacks a rock solid commitment to passage of a balanced budget amendment, which I believe is necessary to saving our nation.” I just […]

Some Tea Party heroes (Part 2)

Congressmen Tim Huelskamp on the debt ceiling I just don’t understand why people think we can go on and act like everything is okay when we have a trillion dollar deficit. Sometimes you run across some very wise words like I did the other day. Kansas Congressman Tim Huelskamp made the following comment on the […]

By Everette Hatcher III | Posted in spending out of control, Taxes | Comments (0)

Listing of transcripts and videos of Free to Choose by Milton Friedman: Episode “Created Equal” on www.theDailyHatch.org

November 27, 2012 – 11:25 am


 
Milton Friedman in his series “Free to Choose” used a pencil as a simple example to should have the “invisible hand” of the freemarket works (phrase originally used by Adam Smith).
 
 
Milton Friedman congratulated by President Ronald Reagan. © 2008 Free To Choose Media, courtesy of the Power of Choice press kit

Here are some great quotes about Milton Friedman:

“Milton Friedman is a scholar of first rank whose original contributions to economic science have made him one of the greatest thinkers in modern history.”
—President Ronald Reagan

“How grateful I have been over the years for the cogency of Friedman’s ideas which have influenced me. Cherishers of freedom will be indebted to him for generations to come.”
—Alan Greenspan, former Chairman, Federal Reserve System

“Right at this moment there are people all over the land, I could put dots on the map, who are trying to prove Milton wrong. At some point, somebody else is trying to prove he’s right That’s what I call influence.”
—Paul Samuelson, Nobel Laureate in Economic Science

“Friedman’s influence reaches far beyond the academic community and the world of economics. Rather than lock himself in an ivory tower, he has joined the fray to fight for the survival of this great country of ours.”
—William E. Simon, former Secretary of the Treasury

“Milton Friedman is the most original social thinker of the era.”
—John Kenneth Galbraith, former Professor of Economics, Harvard University

Perhaps Friedman’s greatest success began in 1979 when he and his wife Rose authored the book, Free to Choose, based on the famous ten-part TV series for PBS by the same title. Both the TV program and the book were drawn from an earlier series of lectures presented by Friedman. Because it aired during a period of critical economic distress during the Carter Administration and in the aftermath of the Vietnam War, Watergate scandal, and Richard Nixon’s resignation as President, the program is widely regarded as being a major factor in shifting American public opinion toward appreciating the need to dismantle government largess. The series was shown in England, Japan, Italy, Australia, Germany, Canada, and many other countries, and the book was translated for distribution around the world, selling more than one million copies.

__________

No other issue is more misunderstood today than equality. President Obama has used class warfare over and over the last few months and according to him equality at the finish line is the equality that we should all be talking about. However, socialism has never worked and it has always killed incentive to produce more. Milton Friedman expressed the conversative’s best and I am glad that I had the chance to be studying his work for over 30 years now.

In 1980 when I first sat down and read the book “Free to Choose” I was involved in Ronald Reagan’s campaign for president and excited about the race. Milton Friedman’s books and film series really helped form my conservative views. Take a look at one of my favorite films of his:

Created Equal [1/7]. Milton Friedman’s Free to Choose (1980)

Uploaded by on May 30, 2010

In this program, Milton Friedman visits India, the U.S., and Britain, examining the question of equality. He points out that our society traditionally has embraced two kinds of equality: equality before God and equality of opportunity. The first of these implies that human beings enjoy a certain dignity simply because they are members of the human community. The second suggests societies should allow the talents and inclinations of individuals to unfold, free from arbitrary barriers. Both of these concepts of equality are consistent with the goal of personal freedom.

In recent years, there has been growing support for a third type of equality, which Dr. Friedman calls “equality of outcome.” This concept of equality assumes that justice demands a more equal distribution of the economic fruits of society. While admitting the good intentions of those supporting the idea of equality of outcome, Dr. Friedman points out that government policies undertaken in support of this objective are inconsistent with the ideal of personal freedom. Advocates of equality of outcome typically argue that consumers must be protected by government from the insensitivities of the free market place.

Dr. Friedman demonstrates that in countries where governments have pursued the goal of equality of outcome, the differences in wealth and well being between the top and the bottom are actually much greater than in countries that have relied on free markets to coordinate economic activity. Indeed, says Dr. Friedman, it is the ordinary citizen who benefits most from the free market system. Dr. Friedman concludes that any society that puts equality ahead of freedom will end up with neither. But the society that puts freedom before equality will end up with both greater freedom and great equality.

___________________________

FREE TO CHOOSE 5: “Created Equal” (Milton Friedman)
Free to Choose ^ | 1980 | Milton Friedman

Posted on Friday, July 21, 2006 3:58:44 PM by Choose Ye This Day

FREE TO CHOOSE: Created Equal

Friedman: From the Victorian novelists to modern reformers, a favorite device to stir our emotions is to contrast extremes of wealth and of poverty. We are expected to conclude that the rich are responsible for the deprivations of the poor __ that they are rich at the expense of the poor.

Whether it is in the slums of New Delhi or in the affluence of Las Vegas, it simply isn’t fair that there should be any losers. Life is unfair __ there is nothing fair about one man being born blind and another man being born with sight. There is nothing fair about one man being born of a wealthy parent and one of an indigenous parent. There is nothing fair about Mohammed Ali having been born with a skill that enables him to make millions of dollars one night. There is nothing fair about Marleena Detrich having great legs that we all want to watch. There is nothing fair about any of that. But on the other hand, don’t you think a lot of people who like to look at Marleena Detrich’s legs benefited from nature’s unfairness in producing a Marleena Detrich. What kind of a world would it be if everybody was an absolute identical duplicate of anybody else. You might as well destroy the whole world and just keep one specimen left for a museum. In the same way, it’s unfair that Muhammed Ali should be a great fighter and should be able to earn millions. But would it not be even more unfair to the people who like to watch him if you said that in the pursuit of some abstract idea of equality we’re not going to let Muhammed Ali get more for one nights fight than the lowest man on the totem pole can get for a days unskilled work on the docks. You can do that but the result of that would be to deny people the opportunity to watch Mohammad Ali. I doubt very much he would be willing to subject himself to the kind of fights he’s gone through if he were to get the pay of an unskilled docker.

This beautiful estate, its manicured lawns, its trees, its shrubs, was built by men and women who were taken by force in Africa and sold as slaves in America. These kitchen gardens were planted and tended by them to furnish food for themselves and their master, Thomas Jefferson, the Squire of Monticello. It was Jefferson who wrote these words: We hold these truths to be self-evident that all men are created equal. That they are endowed by their creator with certain inalienable rights, that among these are life, liberty and the pursuit of happiness. These words penned by Thomas Jefferson at the age of 33 when he wrote the Declaration of Independence, have served to define a basic ideal of the United States throughout its history.

Much of our history has revolved about the definition and redefinition of the concept of equality, about the intent to translate it into practice. What did Thomas Jefferson mean by the words all men are created equal? He surely did not mean that they were equal and/or identical in what they could do and what they believed. After all, he was himself a most remarkable person. At the age of 26, he designed this beautiful house of Monticello, supervised its construction and indeed is said to have worked on it with his own hands. He was an inventor, a scholar, an author, a statesman, governor of Virginia, President of the United States, minister to France, he helped shape and create the United States. What he meant by the word “equal” can be seen in the phrase “endowed by their creator”. To Thomas Jefferson, all men are equal in the eyes of God. They all must be treated as individuals who have each separately a right to life, liberty and the pursuit of happiness.

Of course, practice did not conform to the ideals. In Jefferson’s life or in ours as a nation, he agonized repeatedly during his lifetime about the conflict between the institution of slavery and the fine words of the declaration. Yet, during his whole life, he was a slave owner.

This is the City Palace in Jaipur, the capitol of the Indian state of Rajasthan, is just one of the elegant houses that were built here 150 years ago by the prince who ruled this land. There are no more princes, no more Maharajas in India today. All titles were swept away by the government of India in its quest for equality. But as you can see, there are still some people here who live a very privileged life. The descendants of the Maharajas financed this kind of life partly by using other palaces as hotels for tourists __ tourists who come to India to see how the other half lives. This side of India, the exotic glamorous side, is still very real. Everywhere in the world there are gross inequalities of income and wealth. They offend most of us.

A myth has grown up that free market capitalism increases such inequalities, that the rich benefit at the expense of the poor. Nothing could be further from the truth. Wherever the free market has been permitted to operate, the ordinary man has been able to attain levels of living never dreamed of before. Nowhere is the gap between rich and poor. Nowhere are the rich richer and the poor poorer than in those societies that do not permit the free market to operate, whether they be feudal societies where status determines position, or modern, centrally-planned economies where access to government determines position.

Central planning was introduced in India in considerable part in the name of equality. The tragedy is that after 30 years, it is hard to see any significant improvement in the lot of the ordinary person.

__________________

Other segments:

Free to Choose by Milton Friedman: Episode “Created Equal” (Part 7 of transcript and video)

Liberals like President Obama want to shoot for an equality of outcome. That system does not work. In fact, our free society allows for the closest gap between the wealthy and the poor. Unlike other countries where free enterprise and other freedoms are not present.  This is a seven part series. Created Equal [7/7]. Milton Friedman’s Free to Choose […]

Liberals’ solution for the poor is more welfare, but that will not work

Milton Friedman’s solution to limiting poverty Liberals like Michael Cook just don’t get it. They should listen to Milton Friedman (who is quoted in this video below concerning the best way to limit poverty). New Video Shows the War on Poverty Is a Failure Posted by Daniel J. Mitchell The Center for Freedom and Prosperity has […]

Free to Choose by Milton Friedman: Episode “Created Equal” (Part 6 of transcript and video)

Liberals like President Obama want to shoot for an equality of outcome. That system does not work. In fact, our free society allows for the closest gap between the wealthy and the poor. Unlike other countries where free enterprise and other freedoms are not present.  This is a seven part series. Created Equal [6/7]. Milton Friedman’s Free to Choose […]

“Friedman Friday” Free to Choose by Milton Friedman: Episode “Created Equal” (Part 5 of transcript and video)

Liberals like President Obama want to shoot for an equality of outcome. That system does not work. In fact, our free society allows for the closest gap between the wealthy and the poor. Unlike other countries where free enterprise and other freedoms are not present.  This is a seven part series. Created Equal [5/7]. Milton Friedman’s Free to Choose […]

Republican debate Oct 18, 2011 (last part) with video clips and transcript

Republican debate Oct 18, 2011 (last part) with video clips and transcript Below are video clips and the transcript. pt 5 pt 6 pt 7 COOPER: We’re going to move on to an issue very important here in the state of Nevada and throughout the West. We have a question from the hall. QUESTION: Yeah, […]

Milton Friedman discusses Reagan and Reagan discusses Friedman

Uploaded by YAFTV on Aug 19, 2009 Nobel Laureate Dr. Milton Friedman discusses the principles of Ronald Reagan during this talk for students at Young America’s Foundation’s 25th annual National Conservative Student Conference MILTON FRIEDMAN ON RONALD REAGAN In Friday’s WSJ, Milton Friedman reflectedon Ronald Reagan’s legacy. (The link should work for a few more […]

Free to Choose by Milton Friedman: Episode “Created Equal” (Part 4 of transcript and video)

Liberals like President Obama want to shoot for an equality of outcome. That system does not work. In fact, our free society allows for the closest gap between the wealthy and the poor. Unlike other countries where free enterprise and other freedoms are not present.  This is a seven part series. Created Equal [4/7]. Milton Friedman’s Free to Choose […]

Friedman Friday” Free to Choose by Milton Friedman: Episode “Created Equal” (Part 3 of transcript and video)

Friedman Friday” Free to Choose by Milton Friedman: Episode “Created Equal” (Part 3 of transcript and video) Liberals like President Obama want to shoot for an equality of outcome. That system does not work. In fact, our free society allows for the closest gap between the wealthy and the poor. Unlike other countries where free enterprise and other […]

Free to Choose by Milton Friedman: Episode “Created Equal” (Part 2 of transcript and video)

Free to Choose by Milton Friedman: Episode “Created Equal” (Part 2 of transcript and video) Liberals like President Obama want to shoot for an equality of outcome. That system does not work. In fact, our free society allows for the closest gap between the wealthy and the poor. Unlike other countries where free enterprise and other freedoms are […]

Free to Choose by Milton Friedman: Episode “Created Equal” (Part 1 of transcript and video)

 Milton Friedman and Ronald Reagan Liberals like President Obama (and John Brummett) want to shoot for an equality of outcome. That system does not work. In fact, our free society allows for the closest gap between the wealthy and the poor. Unlike other countries where free enterprise and other freedoms are not present.  This is a seven part series. […]

 

By Everette Hatcher III | Posted in Milton Friedman, President Obama | Comments (0)

Open letter to Speaker of the House John Boehner (Part 29)

November 27, 2012 – 11:23 am

Open letter to Speaker of the House John Boehner (Part 29)

John Boehner, Speaker of the House

H-232, The Capital, Washington, DC 20515

Dear Mr. Speaker,

I know that you will have to meet with newly re-elected President Obama soon and he will probably be anxious for you to raise taxes and  federal spending, but he will want you to leave runaway entitlement programs alone. When that happens then you have one thing you can hold over his head and that is the debt ceiling.

You must stand up to him and tell him that you can not raise it. In December of 2012 or January of 2013 at the latest we will be shutting down the government if we don’t increase the debt limit according to the LA Times. You got to listen to the Tea Party heroes like Rep. Todd Rokita, Ben Quayle (R-AZ), Jeff Landry (R, LA-03), Raúl R. Labrador , Tim Huelskamp,  Rep. Justin Amash (R-MI),  , Brooks, Mo (AL – 5), Buerkle, Ann Marie (NY – 25),Chabot, Steven (OH – 1),Duncan, Jeff (SC – 3), Fleischmann, Chuck (TN – 3) ,Gowdy, Trey (SC – 4) ,Griffith, H. Morgan (VA – 9) , Harris, Andy (MD – 1) ,Huizenga, Bill (MI – 2) , Mulvaney, Mick (SC – 5) , Pompeo, Mike (KS – 4) , Ribble, Reid (WI – 8), Rigell, E. Scott (VA – 2) , Ross, Dennis (FL – 12) ,Schweikert, David (AZ – 5), Scott, Austin (GA – 8) , Scott, Tim (SC – 1) , Southerland, Steve (FL – 2) , Stutzman, Marlin (IN – 3) , Walberg, Timothy (MI – 7) , Walsh, Joe (IL – 8),and Woodall, Rob (GA – 7) .

__________

Here is another Tea Party hero you need to listen to:

Congressman Davis Votes Against Debt Ceiling Increase

Washington, Aug 1 -Congressman Geoff Davis made the following statement after voting against S. 365, the Budget Control Act of 2011.  The bill passed the House of Representatives by a vote of 269 to 161.“I commend our Leadership for their tireless efforts throughout this process.  This bill makes a number of positive steps toward beginning to address our fiscal problems and also averts default, but I chose to vote against it for two main reasons.  “First, unlike the original House version of the Budget Control Act, this bill decouples the passage of a Balanced Budget Amendment with the second portion of the debt limit increase.  This was an important component of the original bill and making the second debt limit increase contingent on its passage would have a lasting impact on getting spending in check.“Second, while there is certainly room for cuts and efficiency improvements in every federal agency and program, I have concerns about the method by which cuts would take place if the Joint Select Committee did not work as intended.  For the sake of our country, I hope the Committee is successful and reports to Congress a deficit reduction package that addresses the true cost drivers.  However, in the event that does not happen, the sequester mechanism could be devastating to defense during a time of war and to Medicare when health care providers are already facing cuts thanks to President Obama’s health care law.

“The fight to ensure our country is on sound fiscal footing in the future for our children and grandchildren does not end with this vote.  Over the course of the past year, House Republicans have been successful in changing the debate in Washington from whether to cut spending to how much to cut.  The magnitude of our fiscal woes cannot be resolved overnight and I look forward to continuing to work for a better and more sustainable path forward.”

Sincerely,

Everette Hatcher, 13900 Cottontail Lane, Alexander, AR 72002, lowcostsqueegees@yahoo.com, www.thedailyhatch.org, ph 501-920-5733

___________

Related posts:

Government shutdown coming, will there be any tea party heroes available to stand up to Obama?

DEBT LIMIT – A GUIDE TO AMERICAN FEDERAL DEBT MADE EASY. Uploaded by debtlimitusa on Nov 4, 2011 A satirical short film taking a look at the national debt and how it applies to just one family. Watch the guy from the Ferris Bueller Superbowl Spot! Produced by Seth William Meier, DP/Edited by Craig Evans, […]

Some Tea Party heroes (Part 1)

DEBT LIMIT – A GUIDE TO AMERICAN FEDERAL DEBT MADE EASY. Uploaded by debtlimitusa on Nov 4, 2011 A satirical short film taking a look at the national debt and how it applies to just one family. Watch the guy from the Ferris Bueller Superbowl Spot! Produced by Seth William Meier, DP/Edited by Craig Evans, […]

Some Tea Party heroes (Part 8)

Rep Himes and Rep Schweikert Discuss the Debt and Budget Deal Michael Tanner of the Cato Institute in his article, “Hitting the Ceiling,” National Review Online, March 7, 2012 noted: After all, despite all the sturm und drang about spending cuts as part of last year’s debt-ceiling deal, federal spending not only increased from 2011 […]

Some Tea Party heroes (Part 7)

Michael Tanner of the Cato Institute in his article, “Hitting the Ceiling,” National Review Online, March 7, 2012 noted: After all, despite all the sturm und drang about spending cuts as part of last year’s debt-ceiling deal, federal spending not only increased from 2011 to 2012, it rose faster than inflation and population growth combined. […]

Who are the Tea Party Heroes from the 87 Freshmen Republicans?

Here is a study done on the votes of the 87 incoming freshman republicans frm the Club for Growth. Freshman Vote Study In the 2010 election, 87 freshmen House Republicans came to Washington pledging fealty to the Tea Party movement and the ideals of limited government and economic freedom. The mainstream media likes to say […]

Tea Party Conservative Senator Mike Lee interview

Tea Party Conservative Senator Mike Lee interview Here is an excellent interview above with Senator Lee with a fine article below from the Heritage Foundation. Sen. Mike Lee (R-UT) came to Washington as the a tea-party conservative with the goal of fixing the economy, addressing the debt crisis and curbing the growth of the federal […]

Some Tea Party heroes (Part 6)

I feel so strongly about the evil practice of running up our national debt. I was so proud of Rep. Todd Rokita who voted against the Budget Control Act of 2011 on August 11, 2011. He made this comment:   For decades now, we have spent too much money on ourselves and have intentionally allowed our […]

Some Tea Party heroes (Part 5)

Rep. Quayle on Fox News with Neil Cavuto __________________ We have to get people realize that the most important issue is the debt!!! Recently I read a comment by Congressman Ben Quayle (R-AZ) made  after voting against the amended Budget Control Act on August 1, 2011. He said it was important to compel “Congressional Democrats and […]

Some Tea Party heroes (Part 4)

What future does our country have if we never even attempt to balance our budget. I read some wise words by Congressman Jeff Landry (R, LA-03) regarding the  debt ceiling deal that was passed on August 1, 2011:”Throughout this debate, the American people have demanded a real cure to America’s spending addiction – a Balanced Budget […]

Some Tea Party heroes (Part 3)

I read some wise comments by Idaho First District Congressman Raúl R. Labrador concerning the passage of the Budget Control Act on August 1, 2011 and I wanted to point them out: “The legislation  lacks a rock solid commitment to passage of a balanced budget amendment, which I believe is necessary to saving our nation.” I just […]

Some Tea Party heroes (Part 2)

Congressmen Tim Huelskamp on the debt ceiling I just don’t understand why people think we can go on and act like everything is okay when we have a trillion dollar deficit. Sometimes you run across some very wise words like I did the other day. Kansas Congressman Tim Huelskamp made the following comment on the […]

By Everette Hatcher III | Posted in President Obama, spending out of control, Taxes | Comments (1)

Listing of transcripts and videos of “Free to Choose” episode 3 – Anatomy of a Crisis on www.theDailyHatch.org

November 27, 2012 – 11:22 am


 
Milton Friedman in his series “Free to Choose” used a pencil as a simple example to should have the “invisible hand” of the freemarket works (phrase originally used by Adam Smith).

“How grateful I have been over the years for the cogency of Friedman’s ideas which have influenced me. Cherishers of freedom will be indebted to him for generations to come.”
—Alan Greenspan, former Chairman, Federal Reserve System

“Right at this moment there are people all over the land, I could put dots on the map, who are trying to prove Milton wrong. At some point, somebody else is trying to prove he’s right That’s what I call influence.”
—Paul Samuelson, Nobel Laureate in Economic Science

In 1980 when I first sat down and read the book “Free to Choose” I was involved in Ronald Reagan’s campaign for president and excited about the race. Milton Friedman’s books and film series really helped form my conservative views. Take a look at one of my favorite films of his and if you take time to watch these episodes on inflation then you see how Ronald Reagan was able to bring inflation under control in the 1980’s with the help of Paul Volker of the Federal Reserve:

Milton Friedman’s Free to Choose (1980), episode 3 – Anatomy of a Crisis. part 1

FREE TO CHOOSE: Anatomy of Crisis
Friedman Delancy Street in New York’s lower east side, hardly one of the city’s best known sites, yet what happened in this street nearly 50 years ago continues to effect all of us today. Wall Street. Most of us know what happened here 50 years ago. Inside the Stock Exchange on October 29, 1929, the market collapsed. It came to be known as Black Thursday. The Wall Street crash was followed by the worst depression in American history. That depression has been blamed on the failure of capitalism. It was no such thing but the myth lives on. What really happened was very different.
Although things looked healthy on the surface, business had begun to turn down in mid 1929. The crash intensified the recession. So did continuing bank failures in the south and Midwest. But the recession only became a crisis when these failures spread to New York and in particular to this building, then the headquarters of the Bank of United States. The failure of this bank had far reaching effects and need never have happened.
It was something of a historical accident that this particular bank played the role it did. Why did it fail? It was a perfectly good bank. Banks that were in far worse financial shape had come under difficulties before it did and had, through the cooperation of other banks, been saved. The reason why it wasn’t saved has to do with its rather special character. First its name, Bank of United States, a name that made immigrants believe it was an official governmental bank although in fact it was an ordinary commercial bank. Second its ownership, Jewish, both its name and the character of its ownership which had so much to do with attracting the large number of depositors from the many Jewish businessmen in the city of New York. Both of them also had the effect of alienating other bankers who did not like the special advantage of the name and did not like the character of the ownership. As a result, other banks were all too ready to spread rumors, to help promote an atmosphere in which runs got started on the bank and which it came into difficulty. And they were less then usually willing to cooperate in the efforts that were made to save it.
Only a few blocks away is the Federal Reserve Bank of New York. It was here that the Bank of United States could have been saved. Indeed, the Federal Reserve System had been set up 17 years earlier precisely to prevent the worst consequences of bank failures.
The Federal Reserve Bank of New York, whose directors today meet in this room, devised a plan in cooperation with the superintendent of banking of the State of New York to save the Bank of United States. Their plan called for merging the Bank of United States with several other banks and also providing a guarantee fund to be subscribed to by still other bankers to assure the depositors that the assets of the Bank of United States were safe and sound. The Reserve Bank called meeting after meeting to try to put the plan into effect. It was on again, off again. But finally, after an all night meeting on December 10, 1930, the other bankers, including in particular John Pierpont Morgan, refused to subscribe to the guarantee fund and the plan was off. The next day the Bank of United States closed its doors, never again to open for business. For its depositors who saw their savings tied up and their businesses destroyed, the closing was tragic. Yet when the bank was finally liquidated, in the worst years of the depression, it paid back 92.5 cents on the dollar. Had the other banks cooperated to save it, no one would have lost a penny.
For the other New York banks, they thought closing the Bank of United States would have purely local effects. They were wrong. Partly because it had so many depositors, partly because so many of the depositors were small businessmen, partly because it was the largest bank that had ever been permitted to fail in the United States up to this time, the effects were far reaching. Depositors all over the country were frightened about the safety of their funds and rushed to withdraw them. There were runs. There were failures of banks by the droves. And all the time the Federal Reserve System stood idly by when it had the power and the duty and the responsibility to provide the cash that would have enabled the banks to meet the insistent demands of their depositors without closing their doors.
The way runs on banks can spread and can be stopped is a consequence of the way our bank system works. You may think that when you take some cash to a bank and deposit it, the bank takes that money and sticks it in a vault somewhere to wait until you need it again to turn it back over to you.
Bank teller: Okay, how would you like this? Two tens, one five and five ones. Okay.
Friedman: The bank does no such thing with it. It immediately takes a large part of what you put in and lends it out to somebody else. How do you suppose it earns interest, to pay its expenses, or pay you something for the use of your money? The result is that if all depositors in all the banks tried all at once to convert their deposits into cash, there wouldn’t be anything like enough cash in the banks of the country to meet their demands. In order to prevent such an outcome, in order to cut short a run, it is necessary to have some way either to stop people from asking for it, or to have some additional source from which cash can be obtained. That was intended to be the purpose of the Federal Reserve System. It was to provide the additional cash to meet the demands of the depositors when a run arose.
A classic example of how this system could and did work properly can be found over 2,000 miles from New York near the great Salt Lake in Utah.
In the early 30’s some banks in Salt Lake City and surrounding towns began to get into difficulties. The owners of one them were smart enough to see what had to be done to keep their banks open and courageous enough to do it. When fearful depositors began to clamor to withdraw all their money, one of George Eccles jobs was to brief his cashiers on how to handle the run.

Links to other segments:

“Friedman Friday” (“Free to Choose” episode 3 – Anatomy of a Crisis. part 7of 7)

TEMIN: We don’t think the big capital arose before the government did? VON HOFFMAN: Listen, what are we doing here? I mean __ defending big government is like defending death and taxes. When was the last time you met anybody that was in favor of big government? FRIEDMAN: Today, today I met Bob Lekachman, I […]

“Friedman Friday” (“Free to Choose” episode 3 – Anatomy of a Crisis. part 6of 7)

worked pretty well for a whole generation. Now anything that works well for a whole generation isn’t entirely bad. From the fact __ from that fact, and the undeniable fact that things are working poorly now, are we to conclude that the Keynesian sort of mixed regulation was wrong __ FRIEDMAN: Yes. LEKACHMAN: __ or […]

“Friedman Friday” (“Free to Choose” episode 3 – Anatomy of a Crisis. part 5 of 7)

MCKENZIE: Ah, well, that’s not on our agenda actually. (Laughter) VOICE OFF SCREEN: Why not? MCKENZIE: I boldly repeat the question, though, the expectation having been __ having been raised in the public mind, can you reverse this process where government is expected to produce the happy result? LEKACHMAN: Oh, no way. And it would […]

“Friedman Friday” (“Free to Choose” episode 3 – Anatomy of a Crisis. part 4 of 7)

The massive growth of central government that started after the depression has continued ever since. If anything, it has even speeded up in recent years. Each year there are more buildings in Washington occupied by more bureaucrats administering more laws. The Great Depression persuaded the public that private enterprise was a fundamentally unstable system. That […]

“Friedman Friday” (“Free to Choose” episode 3 – Anatomy of a Crisis. part 3 of 7)

Worse still, America’s depression was to become worldwide because of what lies behind these doors. This is the vault of the Federal Reserve Bank of New York. Inside is the largest horde of gold in the world. Because the world was on a gold standard in 1929, these vaults, where the U.S. gold was stored, […]

“Friedman Friday” (Part 16) (“Free to Choose” episode 3 – Anatomy of a Crisis. part 2 of 7)

  George Eccles: Well, then we called all our employees together. And we told them to be at the bank at their place at 8:00 a.m. and just act as if nothing was happening, just have a smile on their face, if they could, and me too. And we have four savings windows and we […]

“Friedman Friday” (“Free to Choose” episode 3 – Anatomy of a Crisis. part 1of 7)

Milton Friedman’s Free to Choose (1980), episode 3 – Anatomy of a Crisis. part 1 FREE TO CHOOSE: Anatomy of Crisis Friedman Delancy Street in New York’s lower east side, hardly one of the city’s best known sites, yet what happened in this street nearly 50 years ago continues to effect all of us today. […]

 

By Everette Hatcher III | Posted in Milton Friedman | Comments (0)