I'm making a PowerPoint presentation and would like to save a You Tube video in my files.

In the info box for the video there should be a code that says Embed:. I think all you need to do is copy it then paste it into the slide that you want it in

If what I said didn't work this YouTube video might help you

YouTube - Embed YouTube Video into PowerPoint 2007

To include a movie or video clip in a PowerPoint presentation, you simply click 'Insert', click on 'movies and sounds', then click 'movie from file'.

Keep in mind that PowerPoint only recognizes MP3, AVI and few other file formats so if you cannot add a video because it is FLV or some other unrecognized media type, then you simply download a video format converter, to convert the file to a recognized format.

More Info - PowerPoint Tips

Commonly there are two steps for you to put a YouTube video in PowerPoint
(1) Download the YouTube video to your computer first
Download and save YouTube video as WMV or AVI format to your local drive using online conversion service or some software converter to do this.
You may download a FREE YouTube downloader to download your favorite video movies, which is also FLV converter that allows you to convert your FLV video to other formats.
http://www.flash-on-tv.com/free-youtube-downloader.html

Besides the tool above, here are some other recommended online converting websites. You may choose any one to work for you.
vixy.net : Online FLV Converter : Download online videos direct to PC / iPod / PSP. It's free!
Zamzar - Free online file conversion
Media Converter - the fastest free online audio and video converter
http://all2convert.com/download-video-youtube.html

(2) Insert the YouTube video to PowerPoint
Go to Insert -> Movie –> "Movie from file" to embed the YouTube video in the slide you want if you have PowerPoint 2007.
If you have PowerPoint 2003, select Insert menu, point to Movies and Sounds, and then click Movie from File.

For more details about how to do it, you can view this article:
http://www.ppt-to-dvd.com/learningcenter/how-to-put-youtube-video-clip-to-your-powerpoint-presentations.html