John Stossel: A libertarian president shows America how it’s done

12
Congressman Nick Begich III and Argentina President Javier Gerardo Milei on the way to the Trump inauguration on Jan. 20, 2025.

By JOHN STOSSEL | DAILY CALLER NEWS FOUNDATION

Finally, a real libertarian is president.

That’s in Argentina, where last year, Javier Milei surprised pundits by winning the election by a landslide. Now that he’s had a chance to govern it’s clear why Milei is now even more popular.

Argentina was once one of the richest countries in the world. Then, years of big government brought high inflation and poverty. By last year, Argentina was one of the poorest and least free countries in the world.

Then Milei, an economist, ran for office, saying things like, “The state is not the solution. The state is the problem!”

The media called him “radical” and “far-right.”

Why? Milei is OK with sex work and gay marriage (he says marriage should be a private contract — none of the government’s business). He even says people should have the right to choose their own gender. That isn’t “far-right.”

Milei’s a libertarian. He mainly wants government to do less.

“Argentina had been infected with socialism for far too long … ” he said at this year’s World Economic Forum. “With us, it would once again embrace the ideas of freedom — a model that we summarize as the defense of life, liberty and private property.”

He’d campaigned holding a chainsaw to illustrate how much government needed to be cut. I think he stole that idea from my videos!

He points out that government has no money of its own, so whatever it spends, it takes from you.

To the surprise of “experts,” Milei won. Actually, he won by a landslide.

Then pundits declared that he would fail.

A BBC report pointed out that Milei’s “predecessors have tried and failed to turn the economy around.” The reporter confidently concluded, “Milei will be no exception.”

Milei “is pushing a disastrous old agenda,” agreed a Washington Post columnist.

“Economists warn electing far-right Milei would spell ‘devastation’” said reporters at The Guardian, adding “More than 100 economists” warn that Milei’s free-market policies are “‘potentially very harmful … likely to cause more devastation.’”

But they didn’t! They’ve succeeded.

“When Milei came into power,” says Ian Vasquez, vice president for international studies at the Cato Institute, “there was 40% poverty rate … annual inflation of over 200%.”

Just one year later, “Inflation is down. The economy started to recover in the second part of last year, way before what most people expected.”

Monthly inflation at the start of his presidency was about 25%. Last month, prices rose 2.7% — still too much, but way down.

Inflation fell because Milei’s government spent less.

“Milei got rid of nine ministries. He cut government spending by 30%!” says Vasquez. “Milei is showing that his libertarian policies are working.”

Milei shut down 200 state entities and government offices. He fired thousands of bureaucrats. He cut subsidies for energy, transportation and gasoline.

“Two deregulations per day,” notes Vasquez.

Yet he’s more popular than ever.

Now Argentina has a budget surplus.

I wish America’s politicians would pay attention to Milei’s free-market reforms.

Argentina’s rent controls had caused a shortage of apartments.

“When Milei lifted rent controls,” says Vasquez, “the supply of apartments in Argentina tripled and their price fell by about half!”

He also deregulated airlines, allowing new routes, pricing and competition.

Argentina still has big problems, like lots of poverty. Argentina’s tariffs, import bureaucracy and high sales taxes make consumer goods expensive; an $800 iPhone costs almost $3,000 there.

“Argentina still has a long way to go,” says Vasquez, “that’s why Milei recently said, what’s coming is the ‘deep chainsaw.’”

Can we get a deep chainsaw in the United States?

Our government keeps spending more than it takes in. We’re on a path to bankruptcy. It’s why I hope Elon Musk and his Department of Government Efficiency will make Milei-style cuts in the United States. Musk has noticed what Milei did, saying, “He’s making all the right moves.”

Milei’s success not only shows that cuts are possible, but that when they are explained intelligently, they are popular. After Milei cut government, his approval rating rose 6 points.

Freedom works!

Every Tuesday at JohnStossel.com, Stossel posts a new video about the battle between government and freedom.

12 COMMENTS

  1. Whoa, whoa, whoa! Wow! Let’s not become irrationally exuberant. Trump is a pragmatic. He is not a Libertarian. God rest your soul Alisa. Trump is a Progressive. And Progressivism is a religion. Those that practice it believe trading success for failure yields Nirvana. Yes, it is human sacrifice. The faith is underpinned by debt. And Trump’s term, albeit short, will be defined by increasing debt. Enjoy the party my friends. Well, some of you will. The others are perpetually unpleasant.

    Tik Tok

    • Trump is doing great thank you for your positive comments David. After 4 years of hell we are on an up swing finally. Your Marxist left leaning baby killing dems can kiss my a—

  2. Anybody been watching the truth come out about the billions and billions of taxpayer dollars spent on ridiculous stuff and hidden by the government?
    No wonder we’re broke and we spent so much money is just going out to anybody and everybody that supports the woke leftist Democrat party.
    We now can see what theft was going on.
    Well cman, Frank, and fake Alaskan we now know what you stand for you guys all must be getting a cut like the big guys 10% to back this kind of government that lies cheats and steals, and you’re OK with it.
    You’ve been found out we know the truth now.

  3. I can take no issue with what John Stossel has to say, here but I do take issue with how that information is presented (and this is in NO way a criticism of MRAK, who is obviously just reprinting this story).

    What is up in recent years with articles, like this one, being presented as just a long string of disjointed sentences (and often thoughts as well)? Does nobody remember those useful things called “paragraphs” anymore? Is composition a lost and untaught art?

    I find these strings of disjointed sentences articles very distracting and hard to read. They are an insult to the reader.

  4. Yes, the Argentinian government should always do less, particularly with respect to helping its people out of airplanes, no parachute included. Yikes, the USA seems to have been complicit! This time, agreed, let’s support this democratically elected leader.

  5. He’s right about nonsensical gender ideology and marriage. The government should not be involved. However, our government persists on being involved. Most government forms you fill out ask your race, gender and marriage status. Why? Because the government is in your personal business. They tax you differently if you’re married. They treat you differently depending upon your race and gender. We need to get to the point where these things are irrelevant. Moreover, we need to keep our common English language intact. If someone wants to set up their own pronouns, fine. Just don’t give such nonsense official government recognition or allow it in any institutions or schools receiving tax dollars.

  6. I agree that Milei’s reforms are long overdue and are succeeding – but the cost has been greater impoverishment of the Argentinian people, as the bills come due. Our turn is coming.

  7. President Milie has a firm grasp and understanding of economics and is acting rationally and with a plan. President Trump is an unhinged populist, making some correct steps and making others like “Enacting tariffs to combat fentanyl” on our neighbors and trading partners. Trying to limit the supply of drugs has never worked as long as the demand is there. He would be just as effective (and have less collateral damage) banning warm fuzzies to combat fentanyl. When your actions are based on a well understood philosophy as Milie’s are, rather than ‘whim of the moment’ like Trump’s are the chance for success is much better.

  8. It appears that Elon’s protégés are breaking numerous laws that will probably need Trump pardons to head off the 5 year statute of limitations.

Comments are closed.