Had to search their debt, had no idea it was this bad:
Puerto Rico Gov. Alejandro García Padilla finally admitted defeat on Sunday, telling The New York Times that the island could not pay its massive $72 billion debt. Instead of taking on another round of high-interest borrowing to delay the inevitable default, he said it’s time for Puerto Rico’s creditors to “share the sacrifices” that the island’s residents have already had to bear.
1. All Puerto Ricans are Americans, really.
2. Congress could easily address this situation, but hasn’t.
3. Americans on the mainland hold Puerto Rico’s debt.
4. Puerto Rico matters for 2016. Just ask Jeb Bush.
5. What’s happening in Puerto Rico reflects the wider evisceration of the American middle class.
So, it’s population as of this year is 3,676,389. The debt for each individual on that island is about 20K, right? Or do my math skills still suck?
I have a relative who reviews the financial records for a company in PR. He says they’re all corrupt there. He was supposed to go down again in October but they’ve postponed it so who knows how bad it’ll be when he does finally get down there.