This has to rank among the greatest first-year accomplishments of any president anywhere in the world: in 2024, under Javier Milei, Argentina’s national government spending declined as a percent of GDP from 22.3% to 15.6% in one year. That’s a 30% drop. Why, oh why can’t we do that?

For context, in fiscal year 2024 the United States federal government spent 23.4% of GDP – a little bit more than pre-Milei Argentina – and Republicans in Congress are struggling to find any spending cuts at all.

The politicians who are scared of even the slightest spending reductions should note that Milei now enjoys the second-highest approval rating of any world leader:

We attribute some of Milei’s success to the advice he received from UP co-founder Arthur Laffer.