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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsTrump set to bail out Argentina, irking some in 'America First' camp
President Donald Trumps decision to give Argentina a $20 billion financial lifeline has stirred anger among some of his most loyal supporters and raised questions about the limits of his America First approach to the global economy.
The presidents customary allergy to using taxpayer money to help other nations makes the Argentine rescue especially noteworthy. Since taking office in January, Trump has slashed U.S. foreign aid programs, slow-walked military assistance for Ukraine and demanded that close allies like South Korea and Japan pay for a greater share of their defense.
But the administration last week showed no hesitation about saving Argentina from its latest economic misfortune. Its not that the Latin American nation is vital to the global economy. Though it was among the worlds richest countries in the early 20th century, today its annual output is roughly equal to Michigans.
The U.S. intervention stems from a blend of political and economic considerations. Trump is a fan of Argentine President Javier Milei, a libertarian whose attacks on government spending and red tape have made him a folk hero to the American right. This month, however, Mileis party was trounced in provincial elections in Buenos Aires, raising doubts about his ability to retain a legislative majority in Oct. 26 midterm elections. Treasury Secretary Scott Bessent says Milei needs a bridge to the election so that he can win a renewed mandate for reform.
https://www.msn.com/en-us/money/markets/trump-set-to-bail-out-argentina-irking-some-in-america-first-camp/ar-AA1NsmtA
I'd venture a guess the vast majority of Americans who are aware of this are irked by it.

JI7
(92,714 posts)8
Prairie Gates
(6,367 posts)underpants
(193,279 posts)He cut 50,000 government jobs
Currency is the root of Argentinas problems. The overvalued peso, which has lifted Argentines living standards, has hurt exports and led to a wider trade deficit. That has worked against efforts to rebuild foreign currency reserves, leaving the government short of the dollars it needs to service its $250 billion foreign debt.
Milei squandered a significant amount of dollar reserves to buy pesos in the open market in an effort to sustain the currencys value, fearing a decline would fuel the inflation that he is trying to eradicate.
Prairie Gates
(6,367 posts)Like all libertarian economics, it sounds good in relation to its own internal system of claims, but is a catastrophe in real world conditions.
Bernardo de La Paz
(58,968 posts)Johonny
(24,791 posts)That the US farmers used to, but Trump bailing both sides out because . . . Who the fuck knows?
GoCubsGo
(34,393 posts)He wants to bail out Argentina to the tune of tens of billions, while cutting healthcare and other services from American citizens? We should all be fucking enraged.
underpants
(193,279 posts)Milei is an icon for MAGA. Trump is going to create massive homelessness and even worse healthcare.