Some Good News in the World, and His Name is Javier Milei

On Javier Milei’s first day in office, he eliminated half of the government’s cabinet-level ministries. Argentina now has a budget surplus:

Argentina, under newly-elected President Javier Milei, is in the black for the first time in nearly 12 years, as its first monthly budget ended with a surplus of $589 million, at the official U.S. exchange rate.

The country’s economy ministry announced the milestone on Friday, adding the surplus also includes payments on interest accrued on the public debt.

This is “the first (monthly) financial surplus since August 2012, and the first surplus for a January since 2011,” the Economy Ministry said, as reported by the Telam news agency.

Since taking office on Dec. 10, Milei has made good on many campaign promises to fundamentally overhaul the historically socialist federal government of Argentina.

Of course, there are leftist protests against the loss of easy money, but he won overwhelmingly on a pledge to cut federal spending by 14% of the country’s GDP and he set about doing it.

5% of GDP to be cut from federal government transfers to provinces

2% of GDP to be eliminated by privatizing public works

5% of GDP to be adjusted in an overhaul of the subsidies program, directing support to the neediest households, rather than companies

1% of GDP to be cut by eliminating privileged retirement packages granted high-ranking government officials

1% of GDP to be reduced by selling or closing unprofitable state-owned companies

THIS is how you do it.

From the American Thinker.