BY SHONDELL SABAD, SENIOR STRATEGIC ADVISOR AT THE ALBERTA ENTERPRISE GROUP

Last week’s election in Argentina marked a turning point. President Javier Milei’s victory wasn’t not only about politics; it was about economics. His message was clear: after decades of runaway government spending, chronic inflation, and fiscal mismanagement, Argentina had reached the point where austerity was no longer a choice, it was a necessity.

Milei’s plan to restore stability is controversial, but his core warning should resonate far beyond Argentina’s borders. As he has said, developed countries like the U.S., Canada, and much of Europe are showing the same warning signs, governments spending beyond their means, central banks printing to keep up, and citizens paying the price through rising debt, taxes and inflation.

As Jack Mintz writes in his recent Financial Post column, “Argentina election result: liberalization 1, socialism 0,” Milei’s victory represents a rare political moment where fiscal realism triumphed over short-term populism. (Read the article here.)

This isn’t about ideology; it’s about arithmetic. Debt has limits. Inflation erodes prosperity. And every dollar spent today on borrowed money becomes tomorrow’s burden on future generations.

Canada must heed that warning. With the federal budget scheduled for November 4, we hope that some of President Milei’s message, about the urgency of restoring fiscal discipline and returning to sound economic management, begins to resonate with our own government. We can’t afford to wait for crisis to force discipline; we must choose it now.

Here in Alberta, we’ve shown that fiscal responsibility and free enterprise go hand in hand. Strong public finances, a competitive tax environment, and a focus on private-sector growth have made our province one of the most resilient in North America. But we can’t take that strength for granted.

At AEG, we support policies that empower entrepreneurs, reward hard work, and strengthen the foundation of free enterprise. Fiscal discipline isn’t just good economics; it’s the cornerstone of long-term prosperity and national stability.