Whoa... It Took New Argentinian President Milei 60 Days To Balance Their Budget (fast food, military)
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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.
...
Following a 50 percent devaluation of the peso, a lifting of price controls and strong rate increases, Argentina saw an inflation rate for January of 20.6 percent, with a 12-month rate of 254.2 percent.
The year 2023, the final year of the center-left government of Alberto Fernandez, ended with a 211 percent inflation rate.
With poverty affecting 45 percent of the population, Milei has predicted an economic rebound within three months.
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.
...
Following a 50 percent devaluation of the peso, a lifting of price controls and strong rate increases, Argentina saw an inflation rate for January of 20.6 percent, with a 12-month rate of 254.2 percent.
The year 2023, the final year of the center-left government of Alberto Fernandez, ended with a 211 percent inflation rate.
With poverty affecting 45 percent of the population, Milei has predicted an economic rebound within three months.
Nice work
* golf clap *
I love how he’s considered “far-right” for moderate finance principles.
The US could do the same by laying off a chunk of the Federal workforce. Most people will only notice improvements as it could be used to lay off layers of bureaucracy. Force retirees to take haircuts on pensions too. Cut world police functions of our military and make it focus on defense.
After that we can dump survivors and disability benefits which were added decades later from SS and that program would immediately be solvent. No sense paying people that never paid into a program. State and local programs can better handle individual poverty cases on a case by case basis.
A 30 year repayment plan on the debt could even be instituted and by 2054 we’d be free from this debt nonsense.
I want a toke of whatever the author of that article was smoking. People who don’t live there have no idea of the size of the hole that Argentina has dug for itself. With everything going his way, it would take years for Milei to fix Argentina’s budget deficit. Like, really fix it and not like the poster above said, sell your car so that you can have gas money.
More like you canceled all of your video streaming services, cable TV, online game subscriptions, stopped buying junk food and stop going out to restaurants and eating fast food and going to movie theaters, and now you can pay your car loan and you have $2,000 still in your checking account at the end of the month.
You really think that's why Argentina has poverty? People going to the movies and subscribing to streaming services??
More like you canceled all of your video streaming services, cable TV, online game subscriptions, stopped buying junk food and stop going out to restaurants and eating fast food and going to movie theaters, and now you can pay your car loan and you have $2,000 still in your checking account at the end of the month.
Yep! Apparently, being fiscally-responsible is "far right" now...
You really think that's why Argentina has poverty? People going to the movies and subscribing to streaming services??
No, it's an expression. Spending way too much on nonsense is the problem. It's the exact same problem we face, too. We're so far down a hole that I'm not sure we'll be able to climb out of it...
It will be interesting to see whether he can clean up the disaster that the left has made Argentina over the past few decades before the leftists devise a way to get rid of him and go back to the downward spiral.
Sadly, we really have nobody that dares to fix the US (or even wants to), so we are facing the same fate as Argentina. Trump tried to reverse the descent and wants to try again, but the left will have none of that. We are going to hell, by God, and the American Left will see to it that we go ALL THE WAY to hell. Period. Full stop. And the republican party isn't helping matters, either.
Quote:
Originally Posted by FordBronco1967
No, it's an expression. Spending way too much on nonsense is the problem. It's the exact same problem we face, too. We're so far down a hole that I'm not sure we'll be able to climb out of it...
That's exactly right. There are idiots who pay a couple hundred dollars a month for a silly-ass phone... and then bellyache that they have no money. Don't get me wrong... if you're wealthy and want to buy a Lamborghini Huracán, do it. But don't shoot your wad and then whine that you have no money. If you can't afford it, DON'T buy it. And don't whine if you are stupid enough to buy it.
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