Puerto Rico: Trouble In Paradise?

If you have never been to Puerto Rice then get off your ass and visit……it is the tropics, gorgeous beaches, friendly people and you do NOT need passport……..BTW it is a girl watchers paradise….just saying……

But what brought me out to post on Puerto Rico?  It seems they are having a bit of a monetary problem…..

There’s something about Puerto Rico that has caused many commentators to describe it as “America’s Greece,” and it definitely isn’t yogurt. Instead, it’s the terrible state of the US commonwealth’s economy, which has caused Gov. Alejandro Garcia Padilla to admit that its $72 billion debt is “not payable,” the New York Times reports. “This is not politics, this is math,” he says. The island’s rate of debt to GDP is higher than that of any US state, and its government could run out of cash as soon as July, triggering a government shutdown and other measures, reports the Wall Street Journal, which notes that Puerto Rico’s deep recession began after corporate tax breaks expired in 2006 and manufacturers started to leave the island.

The governor says Puerto Ricans are already struggling with issues such as government austerity, rising crime, and high unemployment and that it’s time for creditors to share the pain by deferring repayments. “If they don’t come to the table, it will be bad for them,” he tells the Times. “What will happen is that our economy will get into a worse situation and we’ll have less money to pay them. They will be shooting themselves in the foot.” Some 24% of Puerto Rico’s bonds are held by so-called “vulture funds” that specialize in high-risk efforts and have opposed efforts to restructure the debt, the Guardian reports. The Times notes, though, that many Americans may have Puerto Rican investments tied up in mutual funds and not be aware of it.

Wait a minute!  Is Puerto Rico a US “territory”?

This country can force feed our cash and stuff to Israel but it cannot find a way to help to help out in Puerto Rico?  Wassup with that?  We accepted this “territory” after the Spanish American War so we are responsible for its upkeep and security.

Time for this country to start acting like the country we were promised back in 1776 and stop helping only those countries that think killing is the only answer……or cut them loose and let them be their own nation.

6 thoughts on “Puerto Rico: Trouble In Paradise?

  1. Well Puerto Ricans are, though there are US citizens, not represented in congress – or for that matter entitled to vote in POTUS elections – so politicians don’t care… I guess.

    1. They use to be drafted and I believe they have to pay income tax…..so if they are still part of the empire why is it we cannot help them but can shove money up Israel’s butt?

      1. So that Israel can buy US made weapons? I could imagine that the defense industry lobby would argue along such lines – regardless whether it’s true.

      2. Oh no doubt it is very true……maybe Puerto Rico should declare war on Virgin Islands……UK ones not the US ones…..LOL

    1. Not that I saw….but it has been 25 years since I was there…..I mean you can find poverty no matter where you go….it is a beautiful island with lots of historical sites and the food was excellent and the people I met were extremely friendly…..

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