Trump: No Money for Health Care, Plenty for Argentina
Argentina’s libertarian president, Javier Milei, is the lucky winner of $40 billion that Donald Trump managed to conjure from thin air. Less lucky are the Americans who rely on the government programs Trump has gutted to be able to “save” that sum.
The Trump administration’s plan is to scrounge around for $20 billion from the private sector to send to crisis-stricken Argentina, on top of the $20 billion it has already set aside to help the country. (Alex Wroblewski / CNP / Bloomberg / Getty Images)
Last November, Americans voted for a president who said he would put “America First.” They’re getting “Argentina First” instead.
Earlier this week, the Donald Trump administration announced it was doubling its planned bailout of Argentina, which, under President Javier Milei’s harsh austerity program, has seen its economy stagnate and the country scramble to sell $1 billion of its foreign reserves to stabilize its collapsing currency.
The Trump team’s plan is to scrounge around for another $20 billion from the private sector to send to the crisis-stricken country, on top of the $20 billion of US taxpayer money Trump already pledged he would use to buy up pesos, which would supposedly be a loan. The $40 billion Trump is sending the country is roughly on par with the $41.8 billion it owes the International Monetary Fund — by far the largest debt on the organization’s books, half of which was taken out under Milei earlier this year.
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