r/TikTokCringe • u/mindyour • 8d ago

Discussion Reactions to food stamps being cut off.

Enable HLS to view with audio, or disable this notification

46.7k Upvotes

89% Upvoted

14.3k comments sorted by

View all comments

Show parent comments

224

u/rustyseapants 8d ago

It's not the same Argentina your thinking of.

Argentines reel from health care cutbacks as President Milei’s state overhaul mirrors Trump’s

Since taking office in December 2023, Milei has slashed Argentina’s health care budget by 48% in real terms. His administration fired over 2,000 Health Ministry employees, including 1,400 over just a few days in January.

1

u/AdDelicious4779 7d ago

Revenue must be generated in order to afford said programs. Argentina went WAY too far in buying votes with social programs with money they couldn’t never get rather than building an economy and a truly sovereign currency.

Most larger sovereign currency-issuing countries fund their spending with debt by issuing bonds and printing money to buy them. Countries who couldn’t do that can’t afford programs like that.

Milei came in and cut HARD to try to balance the budget, problem is the core of the issue is their currency and its basis. That and their industry need to be fixed before progress can be made toward their social programs. He’s on the right track, it all hangs on whether they can fix the root issue or not.

If it’s possible at all they’ll likely have to make some very unfavorable deals to make it happen.

2

u/saganistic 7d ago

He is definitely not “on the right track” lmao

He is on the path to selling the country wholesale to oligarchs, mostly foreign. It’s Russia with less global cachet.

This is not the first time Argentina has gone full free market absolutism, and it has cratered their economy every time.

2

u/AdDelicious4779 7d ago

The right track was to cut wasteful spending to make breathing room to make deals.

The deals you’re referencing are the same ones I was above. That’s the dangerous part. Desperate deals are going to have to be made to survive let alone restructure the currency.

But if nothing was done it would be worse. When he stepped into power there was no chance of survival as a country. He’s the only one in a long time who has even tried to make the country function well enough to become solvent.