Argentina Voted For Limited Government… And Everything Got So Much BETTER!
In just one year, President Javier Milei has transformed Argentina’s economic landscape, slashing the national budget deficit to zero for the first time in 123 years. This is a historic milestone in his presidency, which began on December 10, 2023.
Milei took over an economy crippled by rampant inflation, where supermarkets had to adjust prices daily. However, with his aggressive cutbacks to the size of the state (government), often symbolized by his wielding a chainsaw, Milei has steered the country back toward fiscal stability.
Argentinian inflation plummeted from a staggering 200 percent in 2023 to a mere 2.7 percent by October 2024. This dramatic reduction was celebrated by Milei in a recent broadcast, in which he stated, “The deficit was the root of all our evils—without it, there’s no debt, no emission, no inflation. Today, we have a sustained fiscal surplus, free of default, for the first time in 123 years.”
Milei describes his decisive actions as “the greatest adjustment in history.” He contrasts his approach with past, socialistic policy, “A year ago, a degenerate printed 13 percent of GDP to win an election, fueling inflation. Today, monetary emission is a thing of the past.”
Within weeks of taking office, he sold two private jets owned by a state-owned oil company, as part of a drive to end “political privileges” for state officials. He also reduced the number of government vehicles and chauffeurs by half, and delivered more systemic reforms—for instance, the number of government departments has been cut from 18 to eight, and some 30,000 bureaucrats have been terminated.
Milei’s achievement in eliminating a century-long deficit within a year has not gone unnoticed. Tech mogul Elon Musk took to X to commend Milei, recognizing his bold economic reforms and their tangible results.
Musk and former Republican presidential primary candidate Vivek Ramaswamy will hePost too long. Click here to view the full text.