President Javier Milei spoke in a national broadcast and targeted Congress

In a heated national broadcast, President Javier Milei gave an overview of his first eighteen months in office and issued an unprecedented warning to Congress, which he accused of promoting measures that put fiscal balance and the country's economic future at risk. "If you want to go back, you'll have to take me out feet first," the president declared, in a speech that combined concrete management data, announcements of new policies, and a strong political message ahead of the October legislative elections.

Milei began his address by recalling the mandate he received at the polls: to eradicate inflation and lay the foundations for sustained growth. According to the data he presented, annual inflation plummeted from 300% to 25% and could disappear by the middle of the next year. He also stated that 12 million people escaped poverty, including 2.5 million young people, and that extreme poverty fell from 20.2% to 7.3%. "You can't fix in two years what was destroyed in almost a century," he pointed out, emphasizing that the achievements reached are the result of sacrifice and fiscal discipline.

The President warned that reversing this path would mean repeating the "worst default record of the last 100 years" and returning to reliance on monetary issuance or tax increases, options that—he warned—would inevitably lead to hyperinflation, poverty, and social upheaval. "There's no chance I'll allow this to happen. We're not going back to the past, we're not returning to the path of decline," he stated.

Among the Congressional initiatives he criticized, he mentioned the reinstatement of the pension moratorium, the increase in teachers' salaries, and disability pensions, which would mean an additional expenditure of 2.5% of GDP. In his view, these measures lack genuine funding and would force the country to go into debt or print money, with negative consequences for the entire population. "This is about a political class that lost power two years ago and will do anything to get it back, regardless of whether that means destroying the stability that has cost us so much to achieve," he denounced.

To shield fiscal balance and monetary policy, Milei announced two historic measures. The first: instructing the Ministry of Economy to prohibit the Treasury from financing primary spending with monetary issuance, thus closing the door to any loans from the Central Bank. The second: sending Congress a bill to penalize the approval of national budgets with fiscal deficits, establishing the obligation of balance or surplus and sanctions for legislators and officials who fail to comply.

The president devoted a central section of his speech to explaining, from his perspective on monetary policy, why issuing unbacked money destroys the value of the currency and impoverishes, especially the most vulnerable sectors. He denied that the dollar's price determines inflation without monetary expansion and described as demagogic the idea of solving social problems with more spending without genuine resources. "Printing money doesn't create wealth," he emphasized.

In the final stretch of his message, Milei posed to the public and Congress a choice between two models: his government's, based on fiscal surplus, market rules, and genuine growth, or that of the old politics, which—he warned—led the country to recurring crises through spending financed by debt and issuance. "We have to choose between responsibility or magical realism. Between doing what's right, even if it means being patient, or taking the shortcut and inevitably crashing again," he warned.

He closed by quoting Virgil and Ludwig von Mises, invoking "God's blessing and the forces of heaven" to continue his fight against what he called "the political addiction to unbacked spending." He made it clear that the outcome of this confrontation will be decided at the polls: "let's never give in to evil. We're going to fight it with much greater strength."