<Argentine Government Falls

Before his resignation, De la Rua had been trying to implement his government’s ninth austerity plan. The belt-tightening had included 13 percent cuts in state workers’ wages, higher taxes and moves to slash pensions.

Hoping to blunt the rising hunger and poverty, the government earlier this week began distributing more than 400,000 pounds of food aid.



Argentina

One of my favorite places, Argentina is rife with Latin-American corruption and therefore cannot be truly compared to the U.S. but it is interesting to note that while they embraced free enterprise the "center left" government stifled it's growth with high taxes and government spending run amok. Add the corruption and you have a certain disaster.

When the excrement hits the fan they react by cutting the huge government payroll and RAISING taxes.

With their resources and culture Argentina should be a jewel of the southern hemisphere.