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Javier Milei achieved a balanced budget for the first time in a decade in Argentina
Posted on 2/19/24 at 12:07 pm
Posted on 2/19/24 at 12:07 pm
Took him two whole months after slashing all the BS Gov programs
Argentina Sees First Monthly Budget Surplus In 12 Years
Argentina Sees First Monthly Budget Surplus In 12 Years
quote:
The Argentine government in January saw its first monthly budget surplus in nearly 12 years, as new President Javier Milei continues to push for strong spending cuts, the Economy Ministry announced.
January was the first full month in office for Milei, a far-right libertarian who took office in December, and it ended with a positive balance for public-sector finances of $589 million at the official exchange rate, the government said late Friday.
The figure includes payment of interest on the public debt.
It is "the first (monthly) financial surplus since August 2012, and the first surplus for a January since 2011," the Economy Ministry said, according to the official Telam news agency.
Milei has been negotiating with the International Monetary Fund over its $44 billion loan and has vowed to achieve balance in public finances this year.
"The zero deficit is not negotiable," Economy Minister Luis Caputo said Friday on X, the former Twitter.
Milei, an economist, has advocated sharp cuts in spending and a reduction of public debt on the way to a dollarization of the economy.
17
Posted on 2/19/24 at 12:09 pm to stout
quote:
first monthly budget surplus in nearly 12 years
How many years has it been for the US?
Posted on 2/19/24 at 12:10 pm to LSUnation78
quote:
How many years has it been for the US?
What's this "budget" thing you speak of?
Posted on 2/19/24 at 12:13 pm to stout
haha so literally woke policy and handouts were keeping them broke, the shite-libs will not accept this.
Posted on 2/19/24 at 12:16 pm to stout
I fear he's going too far, too fast, in the right direction and it causes issues domestically that makes the population reverse course. Sometimes a shock to the system, even in the right direction, hurts too much initially if you make it too big, too fast.
Posted on 2/19/24 at 12:25 pm to RaginCajunz
Whats it been 16 years since we even passed one of those things formerly referred to as budgets?
Pathetic really
Pathetic really
Posted on 2/19/24 at 12:29 pm to stout
quote:
a far-right libertarian
Can one be such?
Posted on 2/19/24 at 12:32 pm to stout
There's no way this guy makes it. Someone is gonna kill this dude.
One of my favorite things about being a Libertarian is things like this. Democrats call you a conservative and Republicans call you a liberal. It's great.
quote:
a far-right libertarian
One of my favorite things about being a Libertarian is things like this. Democrats call you a conservative and Republicans call you a liberal. It's great.
Posted on 2/19/24 at 12:37 pm to stout
I've long said I could balance the U.S. budget in a day. People act like it's some difficult thing.
Posted on 2/19/24 at 12:37 pm to SlowFlowPro
quote:
I fear he's going too far, too fast, in the right direction and it causes issues domestically that makes the population reverse course.
That's a given. Argentines are politically fickle and he appears to be giving the economy the full colonic it needs. They'll bring him back in a decade if he's still alive.
Posted on 2/19/24 at 12:53 pm to stout
Posted on 2/19/24 at 1:00 pm to stout
I'm so terribly jelly.
Posted on 2/19/24 at 1:21 pm to SlowFlowPro
quote:
I fear he's going too far, too fast, in the right direction and it causes issues domestically that makes the population reverse course. Sometimes a shock to the system, even in the right direction, hurts too much initially if you make it too big, too fast.
He said during his campaign for office that it's going to be very painful at first, but it will work.
Posted on 2/19/24 at 1:23 pm to Zach
quote:
He said during his campaign for office that it's going to be very painful at first, but it will work.
I don't pray, but I will make an exception for Milei. This needs to work.
Posted on 2/19/24 at 2:04 pm to stout
Damnit Kjnstkmn
This post was edited on 2/19/24 at 2:05 pm
Posted on 2/19/24 at 2:12 pm to stout
I'm happy for Argentina, but I had personal plans with that 800+ peso to 1 USD exchange rate.
When I lived in Buenos Aires, it was 4:1 and a very comfortable living.
Now I'm nearing retirement in time for a trip back, my fellow Belgrano Alum wants to ruin things.
So, selfish.
When I lived in Buenos Aires, it was 4:1 and a very comfortable living.
Now I'm nearing retirement in time for a trip back, my fellow Belgrano Alum wants to ruin things.
So, selfish.
Posted on 2/19/24 at 2:24 pm to frogtown
quote:
I don't pray, but I will make an exception for Milei. This needs to work.
Me too, but no way our See eye eh would allow this to work.
Brace yourself for the unrest.
Posted on 2/19/24 at 2:25 pm to SlowFlowPro
I suppose I also fear “too far, too fast,” but he’s probably right to try because his mandate is likely to be fleeting unless he gets results quickly. For this reason, I suspect moving quickly is worth the risk.
Posted on 2/19/24 at 2:50 pm to stout
quote:
Took him two whole months after slashing all the BS Gov programs
With even half of our wasteful spending cut, the US could accomplish a balanced budget that would also pay off large chunks of our national deficit.
Wasteful spending is how our politicians amass generational wealth, however, so will never be addressed.
Posted on 2/19/24 at 3:14 pm to Che Boludo
I’ve been looking at the same thing. Seems like a great place and cheap.
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