Argentina’s Javier Milei is racking up some solid wins, with the fiscal basket case seeing its first monthly budget surplus in 12 years.
Apparently, it took Milei just nine and a half weeks to balance a budget that was projected at 5% of GDP under the previous government. In US terms, he turned a 1.2 trillion-dollar annual deficit into a 400 billion surplus. In 9 and a half weeks.
How did he do it? Easy: he cut a host of central government agency budgets by 50% while slashing crony contracts and activist handouts.
For perspective, if you cut the entirety of Washington’s budget by 50%, you’d save a fast 3 trillion dollars and start paying off the national debt.It turns out it can be done, and the world doesn’t collapse into chaos. 292d8d70-5f24-43bd-8a1f-b60ac8ebac87_1294x704.png Milei Making Fast Progress Deficits aren’t the only win Milei’s logged. He’s slashed crony regulation, got rid […]
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