On Point | Podcast Why Argentina's Javier Milei has the attention of Trump advisors
Dec 19, 2024
Natalie Alcoba, an Argentine-Canadian journalist, and Monica DeBoll, a senior fellow at the Peterson Institute, dive into the controversial presidency of Javier Milei. They discuss his drastic cuts to government jobs that dropped inflation but drove up poverty. The duality of Milei's impact is examined, with supporters like Trump's advisors viewing him as a model for reducing government in the U.S. The conversation also touches on Argentina's complex economy, the role of the dollar, and the challenges ahead with the IMF.
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Milei's Chainsaw Campaign
- Javier Milei, Argentina's president, campaigned with a chainsaw, promising to cut government spending.
- He slashed 30,000 government jobs and halved state agencies in his first year.
Inflation Down, Poverty Up
- Inflation dropped significantly under Milei, from 25% to under 3% monthly.
- However, poverty soared to 53% due to cuts in social services and subsidies.
Milei's US Admirers
- Elon Musk and Vivek Ramaswamy, both Trump advisors, praise Milei's drastic cuts.
- Ramaswamy even suggested "Milei-style cuts on steroids" for the US government.