Maybe we can learn something from Argentina.
I get US has more levers to pull, time, and we don't want to go as draconian as Milei, but good to see a politician doing this. From what I've read in the reddit, still a lot of pain & suffering happening so not out of the woods yet. Fascinating experiment going on there.
reuters.com
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Argentina brought in its first budget surplus in more than a decade in 2024, data published on Friday showed, marking a win for libertarian President Javier Milei and his sweeping austerity push in his first full year in office.
The nation's budget surplus came in at 1.76 trillion pesos, or 0.3% of gross domestic product (GDP) in the full year, the economy ministry said. Meanwhile the primary fiscal balance, which excludes debt payments, was up to a 10.41 trillion peso surplus, or 1.8% of the GDP.
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Milei slashed public spending after taking office in December 2023 in a bid to tamp out rampant inflation, which hit an annual peak of nearly 300% in April of last year.
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