Posted on 09/02/2024 11:20:06 AM PDT by RandFan
The President of Argentina has issued his first-ever veto, blocking a pension increase that would raise retirees’ payments to 9% above basic living costs.
Milei called the bill “irrational” and said it would “seriously compromise the sustainability of Argentina’s public finances.”
He argues the pension system can't meet the increase without more debt or higher taxes - adding an estimated AR$300 billion (approximately US$310 million) to the budget.
However, with strong support in Congress for the original bill, lawmakers may have the numbers to overturn the veto
Source: Buenos Aires Herald
(Excerpt) Read more at x.com ...
Milei is strong but will be overridden.
Well, here comes the Argentinians. Great. They’ll be seeking Free Taxpayer Stuff Asylum from the far lefties.
He has otherwise done a good job keeping inflation down
But this will obviously be problematic you’d think their politicians would stick to the plan which is WORKING
Milei is doing a fine job.
He knew there would be bumps along the way.
He’ll recover somehow
Free money always wins in a popular vote. Until, that is as Thatcher taught US, they run out of other people’s money. Which they already have and is the reason Melie is now their leader. But the plebe’s memory is always short term.
The plan is NOT working if you mean to buy votes, use your position to loot the treasury, etc.
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