America is not ready for a Javier Milei

Now that the presidential campaign is over President-elect and TIME Magazine’s Person of the Year Donald Trump admitted in an interview with TIME:

(Q) If the prices of groceries don’t come down, will your presidency be a failure?

(A) I don't think so. Look, they got them up. I'd like to bring them down. It's hard to bring things down once they're up. You know, it's very hard. 

Almost Daily Grant’s quipped that Trump “channeled former Federal Reserve chair William McChesney Martin (‘we can never recapture the purchasing power of the dollar that has been lost).”

Meanwhile in Argentina, Reuters reports,

Argentina's monthly inflation rate slowed to 2.4% in November, the lowest in over four years, the official INDEC statistics agency said on Wednesday, as locals began to warily hope the worst of a biting economic crisis might be over.

The South American nation, facing a tough austerity drive by libertarian President Javier Milei, saw the monthly figure come in well below forecasts of 2.8% and lower than 2.7% a month earlier. Annualized 12-month inflation slowed to 166% from 193%.

Milei, being a student of the Austrian school knew a depression was needed to cleanse the Argentina economy. "I think it's important to understand that this is the path. And while some are struggling, as long as we stay on this path it will be okay," said Buenos Aires merchant Dolores Sagasta. "We need to give him more time; it's only been a year, and we need to give him more time."

For the first time in 123 years, Argentina’s budget deficit has been eliminated, Eurasia Business News reports. Milei has slashed government spending and “The government has completely halted monetary emission, a practice that had previously contributed to high inflation rates.” Contributed!?

As part of Milei’s austerity measures, “several government agencies were dissolved, including the Ministries of Culture, Health, Labor, and Social Development. This move aimed to streamline government operations and reduce public sector useless employment by thousands.” Elon and Vivek should take note.

As it stands now, in 2025, as Ryan McMaken writes on mises.org, America will rack up a $3.5 trillion deficit. It’s unlikely America’s government will be cut. Politicians will not let their individual pet projects be eliminated. The U.S. of A. has not hit bottom yet to force the election of someone like Milei.