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In the early 20th century, Argentina was one of the richest countries in the world. While Great Britain\u2019s maritime power and its far-flug empire had propelled it to the dominate Position among the world\u2019s industrialized nations, only the United States challenged Argentina for the position of the world\u2019s second most powerful economy. \xa0In 1915, Argentina elected a new president Hipolito Irigoyen that formed a party called The Radicals under the banner of \u201cfundamental change\u201d\xa0 that was an appeal to the middle class. His changes were that the state took control of everything: mandatory pension insurance, mandatory health insurance and support for low-income housing which he said would stimulate the economy. Then came his new Taxes to swamp the Job creators who quickly moved out of the country.\xa0 Before long, Argentina\u2019s outlays surpassed the value of the Tax revenues,; it quickly became the same as the underfunding of government entitlements as the United States is doing today.\xa0 Argentina could not print money so it took them less time to fall, as will take America, because we print money.