Argentina’s President Slams Socialism, Cuts 350 Policies

Argentina’s newly elected President has signed a “Necessity and Urgency Decree” (DNU), a kind of executive order, that would modify or overturn roughly 350 federal economic policies.

This comes on the heels of his dramatic move to fulfill a campaign promise in decreasing the country’s bloated bureaucracy by slashing 5,000 jobs within the government that were filled in 2023 just before he came into office.

Milei’s executive order targets imports, price controls, health care, sports federations, and landlord and tenant policies just to name just a few.

Milei said this was a “shock stabilization plan” to prevent a financial catastrophe as the country is facing an economic crisis after years of socialist policies and corruption wreaking havoc on Argentina’s economy. “We designed a shock stabilization plan that includes a fiscal adjustment plan, an exchange policy that adjusted the exchange rate to the market value and a monetary policy that includes the destruction of the central bank,” he announced.

During the election, President Milei promised en mass economic deregulation, a drastic reduction in the size of government, and a foreign policy that prioritized alliances with Israel and the United States.

My rule of thumb is to wait one to one and a half years post-election to see if a new leader has fulfilled any of their campaign promises, yet within less than a month since his inauguration, Milei has fulfilled his promise to reduce the size of government, has slashed regulations so markets can begin to flow again without government interference, as well as reconfirming his commitments to move the country’s embassy in Israel to Jerusalem. The latter move is a departure from the former administration which pursued China and Russia as allies.

“Today is a historic day for our country. After decades of failures, impoverishment, decadence, and anomie, today we formally begin the path to reconstruction… We are making our maximum effort to try to diminish the tragic effects of what could be the worst crisis of our history, the product of decades of governments who insisted on using failed recipes,” Milei said.

Milei asserted that politicians are “not just not God – they are the cause of our problems,” he then proceeded to list 30 of the hundreds of reforms inside of the 83-page DNU.

From deregulation of telecommunications to ending a “Rental Law” which limited what kind of lease contracts landlords and tenants can sign to reducing customs regulations controlling imports and exports, this 83-page DNU isn’t just what the country of Argentina needed but it’s a prime example of good policy in action.

Perspective

Socialism hasn’t solely impacted South American nations, however, here in the United States, we are facing the threat of this ideology seeping into our institutions thanks to individuals like Senator Bernie Sanders and Congresswoman Alexandria Ocasio-Cortez.

It is wisdom for us to learn from nations who were plagued by the dehumanizing and anti-Christian beliefs and policies socialism demands in order to protect our nation from falling prey to such an ideology.

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