Is there a good free program that allows me to pull YouTube video off the internet and embed it into PowerPoint?
Keepvid.com is a website that will let you do this. You copy the web address of the YouTube video you want, then paste the address into the long download box at the top of the page and click the download button to the right of this box (not below: that's an advertisement).
Your computer may then ask you permission to run Java. Click Run, or Allow, or Yes (whatever it takes).
You'll then be given options of formats to download the video. I normally choose the MP4 (max 480p) format.
You should then be able to go to the Insert tab in PowerPoint and click Movie, Movie from File (PowerPoint 2007).