Saturday, February 24, 2024

Javier Milei Ended A DC-Sized Deficit In...Nine Weeks

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.

Deficits aren't the only win Milei's logged.

A major Milei reform to make it a lot easier to hire people but would hurt unions was struck down by the high court, which said it must go through Congress.

Milei's reforms will continue to be trench warfare.

To fully kill Argentina's hyperinflation, Milei would need to make real progress on the dollarization - or, dare we dream, a gold standard.

Not just for Argentina: If Milei succeeds, he'll be a model for radically shrinking government in other countries in Latin America, in the rest of the world, and even for our spineless goblins in Washington. 

https://mises.org/wire/javier-milei-ended-dc-sized-deficit-innine-weeks

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