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ad says
Milei may be just proposing extreme measures hoping there is some compromise so at least there is slight austerity for the next 4 years.
I wish the same would happen here such as grow the federal government budget by 1.5% below inflation each year for 4 consecutive years without requiring drastic tax increases.
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The problem with that idea is that the Federal government has a pension problem. Every year there are more and more retirees with a Federal pension, and the ones already outstanding get their COLAs. This is on top of the 10000 people per day hitting age 65 and retiring with their Social Security. This pretty much assures that government spending has to increase every year.
No it doesn't. When the music stops, it stops.
Then you gotta add in Medicare/Medicaid, military healthcare (both retired and current) and civil servant healthcare. Also, since the demobilization from WWII there has never been a year where the number of government employees has dropped (go figure).
Just curious: what is your definition of the music stopping?
Implement a means test for Social Security.
ad says
Implement a means test for Social Security.
How about I get to stop paying into it if I don't get to get it back. I can invest it better anyway.
How about I get to stop paying into it if I don't get to get it back. I can invest it better anyway.
Unfortunately, there is no way of telling who a good investor is. The whole reason SS came about is that the majority of the population has proven to be too irresponsible to save for retirement. If everyone is allowed to opt out, then we will have the situation where most people not invest at all, some people will invest in the myriad of scams that will come about, and just a few like you who will invest wisely. Without SS, we would have a seriously increased mass of elderly poor. "W" proposed a plan when he was President to allow people to choose the investment vehicle for their SS deductions. That plan would have led to Solyndra level scams where the invested money would simply vanish, and we would still have the problem with elderly poor victims.
Another reason SS is broke is like welfare, it went beyond the deserving to too many situations.
SS was created to help the elderly who could not work pay for the last week of every month's groceries. That's why it's supplemental.
Over the decades, it was expanded to the disabled, mentally ill, and a bunch of others.
Just like welfare was for the maimed or the widows, but expanded to Leg Spreaders. Once it was expanded to leg spreaders the whole thing became a disaster.
The Open Skies policy included in yesterday’s measures:
- Enables airline companies from all over the world to begin offering domestic flights within Argentine territory
- Enables airline companies from all over the world to offer international flights to and from Argentina without the need for prior agreements (e.g. direct flights São Paulo-Bariloche or Madrid-Mendoza, without having to go through Buenos Aires first).
- Limits on flights per route and who can fly them are eliminated
- Airline operators will be able to freely set prices (the disastrous FLOOR prices they put on low cost airlines end, so now they actually become low cost
The other new face on the scene, under a comical mop of hair, is the feisty Javier Milei, Argentina’s new president. There is no other way to account for this rich country’s protracted disastrous collapse except seventy-five years of intractable, half-assed Peronista socialism that drained the nation’s will to live. Mr. Milei has started a mass eviction of bureaucrats and the departments they infest, and massive de-regulation of business. The place might actually wake up and start doing business again. A hundred years ago, it was one of the world’s upcoming leading nations before it fell under Juan and Eva Peron’s spell.
Africa News ran a story yesterday headlined, “BRICS expansion: five countries join ranks.” For some reason, U.S. corporate media has completely ignored the story.
Yesterday, Saudia Arabia, Egypt, the United Arab Emirates, Iran and Ethiopia officially joined the alternative-currency BRICS group of nations. (They were approved to join back in August.) Argentina was also slated to join, but — fortunately for America — Argentina’s new chainsaw-wielding, US-aligned, “far-right” president Javier Milei cancelled the country’s BRICS application last week and bowed out. (Is that why the CIA let him win?)
Everyone is looking for something that will hold value as faith in the dollar is plummeting.
I don’t really see how BRICS threatens US of A or what is the benefit to Argentina in joining it. The two serious players - China and India - hate each other’s guts and claim each other’s territory.
Things that we have no idea for what they are used
I’m not sure what to make of this story. Barron’s covered it in an article yesterday headlined, “IMF Authorizes $4.7 Billion For Argentina After Milei's 'Bold' Reforms.”
In a statement, the International Monetary Fund’s chief Kristalina Georgieva, if that’s her real name, praised Javier Milei's "bold actions to restore macroeconomic stability and... address long-standing impediments to growth." Accordingly, the IMF approved a $4.7 billion “aid program,” which is probably an onerous loan with tons of strings attached, but it signals official approval of Milei’s anti-socialist reforms. ...
I was surprised at the news of the IMF loan, since I expected global organizations like the IMF would oppose Milei’s anarcho-capitalist reforms. But something in the zeitgeist seems to have changed. Maybe, revealed by the harsh light of potential post-pandemic financial collapse, socialism is finally looking unaffordable.
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Argentina's "Far-Right" (Libertarian) Javier Milei wins Primary.
This guy is great, he's like a combo of Ron Paul but with Trump's fiestyness. And he's got Austin Powers Mod haircut.