If only we can do this; EPA, Dept. of Education are two that comes to mind immediate. PBS funding should be pulled as well.Quote:
So how is he en route to deliver such a massive shock to the stale economic orthodoxy? Fundamentally, he got three big calls right.
First, even without a majority in parliament, he has been ruthless. Whole government departments have been closed down overnight, regardless of the immediate consequences. The Ministry of Culture was axed, so was the anti-discrimination agency, and the state-owned news service. Only last month, he unveiled plans to fire another 70,000 state employees.
Milei hasn't attempted to cut gradually, to control budgets, or to ease people out with early retirement, or hiring freezes. Instead, he has, as promised, taken a 'chainsaw' to the machinery of the state, yielding huge savings in the process.
Next, he has been bold. The president massively devalued the peso on day one, taking the financial hit upfront, and then tore up rent controls, price restrictions and state subsidies. He pared back workers' rights, reducing maternity leave and severance compensation, and allowed companies to fire workers who went on strike.
Milei has been wildly effective in slashing inflation from over 300% to 11% in just few short months.
Milei controlling inflation