The late Dr. Milton Friedman, 1976 Nobel Laureate in Economics and host of Free To Choose, urges alertness to the difference between false and real problems concerning government in PRC Forum: Milton Friedman. The problem is not budget deficits, trade deficits, or federal debt. The problem is government spending relative to income, protectionist policies, and unfunded debt resulting from entitlements. It was recorded in 1987.