Venezuelans Finally Vote to Oust the Socialists

Since the death of Hugo Chavez and the precipitous decline of global oil prices, the economy of Venezuela has been in free fall. Prices rose to outrageous levels as rampant inflation wiped out savings across the board. Price controls created severe shortages of common goods, which sparked an increase in petty crimes, riots, and protests.

Now the people of Venezuela have had enough. After the votes were counted for Sunday’s election, it was clear that Maduro’s socialist government had been absolutely trounced by the opposition coalition, known as Democratic Unity. The votes that have been tallied indicate that the opposition has won 99 seats in Venezuela’s parliament, with the socialists taking a paltry 46, and 22 seats that have yet to be announced. The opposition coalition is on track to win two-thirds of the parliament, which would give them the overwhelming majority needed to overhaul the government and institute economic reforms.

On Monday morning, Maduro took to the airwaves to accept his party’s defeat, and to assure his citizens that he would respect the results of the election. The vote marks the first time that any opposition has won since Hugo Chavez came to power in 1999. Though Maduro’s term doesn’t expire until 2019, opposition leaders want to start a recall referendum to oust him next year. They also plan to stop Venezuela’s runaway inflation, roll back nationalized markets, and pass an amnesty law for political opponents who have been jailed by Maduro’s government.