Wall Street won’t underwrite Argentina without Washington backing the play — and who could blame them? Argentina is a very poor bet. Asking whether we should be bailing it out is not only fair, it’s essential. Count me among those voting no.

According to the Associated Press, the Trump administration plans to provide roughly $40 billion in financial support to Argentina — half through a U.S. Treasury–backed currency swap and half from private investors — to stabilize the country’s collapsing economy and support President Javier Milei’s free-market reforms. Washington views Milei, a close Trump ally, as a key partner in promoting deregulation and fiscal discipline across Latin America.

Fair enough and good on Milei. Yes, America favors market-based democracies. Yes, it makes sense to enco

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