Argentina's got it right?

[Warren Mosler <mosler@xxxxxxxxxxxxxx>]

(also, 'The Euro is NOT a US Problem' is at
www.mosler.org)

LOOKS PROMISING-

Rio Gallegos, Argentina, May 15 (Bloomberg) -- Nestor
Kirchner, who yesterday learned that he will be
Argentina's next president, says his bankrupt country
should spend its way out of a four-year recession.

``We're going to have a lot more public works projects
to inaugurate,'' Kirchner said at the May 10 opening
of 23 kilometers (14 miles) of newly paved road in
Santa Cruz, the southern Argentine province he has
governed since 1991.

Former President Carlos Menem's withdrawal yesterday
from this weekend's election runoff means Kirchner,
53, will have four years to fulfill promises to create
jobs and revive the economy. Kirchner says he will do
that by boosting spending for projects such as
building 3 million homes. As governor, he used oil
royalties and federal funds to construct highways,
hospitals and schools, creating 43,000 jobs and
keeping Santa Cruz's unemployment rate at 3 percent,
compared with 18 percent nationwide.



=====
Warren Mosler, www.mosler.org
c/o James River Capital Corp
5007 Chandler's Wharf, Suite 201/202
Christiansted, USVI  00820
340-719-8813 office phone
340-719-8804 Fax
Primary email contact:  mosler@xxxxxxxxxxxxxx

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