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Dont Cry For Me, Argentina
America
This is a history lesson. It happened in
Argentina, it could happen in the U.S.
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In the early 20th century, Argentina was one of
the richest countries in the world. While Great
Britains maritime power and its far-flung empire
had propelled it to a dominant position among the
worlds industrialized nations, only the United
States challenged Argentina for the position of
the worlds second-most powerful economy.
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Like the United States, Argentina was blessed
with abundant agriculture, vast swaths of rich
farmland laced with navigable rivers, and an
accessible port system. Its level of
industrialization was higher than many European
countries railroads, automobiles, and telephones
were commonplace.
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In 1916, Argentina elected a new president.
Hipólito Irigoyen had formed a party called The
Radicals under the banner of fundamental change
with an appeal to the middle class.
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Among Irigoyens changes mandatory pension
insurance, mandatory health insurance, and
support for low-income housing construction to
stimulate the economy. Put simply, the state
assumed economic control of a vast swath of the
countrys operations and began assessing new
payroll taxes to fund its efforts.
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With an increasing flow of funds into these
entitlement programs, the governments payouts
soon became overly generous. Before long its
outlays surpassed the value of the taxpayers
contributions. Put simply, it quickly became
under-funded, much like the United States Social
Security and Medicare programs.
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The death knell for the Argentine economy,
however, came with the election of Juan Perón.
Perón had a fascist and corporatist upbringing
he and his charismatic wife, Eva, aimed their
populist rhetoric at the nations rich.
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This targeted group swiftly expanded to cover
most of the propertied middle classes, who became
an enemy to be defeated and humiliated.
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Under Perón, the size of government bureaucracies
exploded through massive programs of social
spending and by encouraging the growth of labor
unions.
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High taxes and economic mismanagement took their
inevitable toll even after Perón had been driven
from office. However, his populist rhetoric and
contempt for economic realities lived on.
Argentinas federal government continued to spend
far beyond its means.
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Hyperinflation exploded in 1989, the final stage
of a process characterized by industrial
protectionism, redistribution of income based on
increased wages, and growing state intervention
in the economy
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The Argentinian governments practice of printing
money to pay off its public debts had crushed the
economy. Inflation hit 3000, reminiscent of the
Weimar Republic. Food riots were rampant stores
were looted the country descended into chaos.
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By 1994, Argentinas public pensions the
equivalent of Social Security had imploded.
The payroll tax had increased from 5 to 26, but
it was not enough. In addition, Argentina had
implemented a value-added tax (VAT), new income
taxes, a personal tax on wealth, and additional
revenues based upon the sale of public
enterprises. These crushed the private sector,
further damaging the economy.
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A government-controlled privatization effort to
rescue seniors pensions was attempted. However,
by 2001, those funds had also been raided by the
government, the monies replaced by Argentinas
defaulted government bonds.
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By 2002, government fiscal irresponsibility
induced a national economic crisis as severe as
Americas Great Depression.
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In 1902, Argentina was one of the worlds richest
countries. Little more than a hundred years
later, it is poverty-stricken, struggling to meet
its debt obligations amidst a drought.
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The Democrat Partys populist plans for the U.S.
cannot possibly work, because government
bankrupts everything it touches. History teaches
us that ObamaCare and unfunded entitlement
programs will be utter, complete disasters.
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The Democrat Party leaders of today are guilty of
more than stupidity they are enslaving future
generations to poverty and misery. And they will
be long gone when it all implodes. They will be
as cold and dead as Juan Perón when the piper
must ultimately be paid.
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DON'T CRY FOR ME ARGENTINA Sung by Madonna
And as for fortune, and as for fame I never
invited them in Though it seemed to the
world They were all I desired They are
illusions They're not the solutions they promised
to be, The answer was here all the time I love
you and hope you love me au Refrain Don't cry
for me Argentina The truth is I never left
you All through my wild days my mad existence I
kept my promise Don't keep your distance Have I
said too much? There's nothing more I can think
of to say to you But all you have to do is look
at me To know that every word is true au Refrain
It won't be easy, you'll think it strange When I
try to explain how I feel That I still need your
love after all I have done You won't believe
me All you will see is a girl you once
knew Although she's dressed up to the nines At
sixes and sevens with you I had to let it happen,
I had to change Couldnt stay all my life down at
heel Looking out of the window, staying out of
the sun So I chose freedom Running around trying
everything new But nothing impressed me at all I
never expected it to Refrain Don't cry for me
Argentina The truth is I never left you All
through my wild days my mad existence I kept my
promise Don't keep your distance
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