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Politics : Foreign Policy Discussion Thread
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From: Thomas M.3/5/2024 5:42:10 PM
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longz

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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. 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.

mises.org

Tom
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