Posted on 05/09/2016 1:14:14 PM PDT by Beautiful_Gracious_Skies
Donald Trump says Puerto Rico has "far far too much debt," and the U.S. government shouldn't bail out the island.......
Puerto Rico is in crisis mode. It has run up $70 billion in debt, a staggering amount for an island of under 3.5 million people.....
"You have to cut the debt way down and get back to business," he said.
(Excerpt) Read more at money.cnn.com ...
Obama’s already got another idea...
The other day he was talking about U.S. sovereign debt being renegotiated. Why not Puerto Rico’s?
Cesar Conda –Marco Rubio’s chief of staff worked for George Soros
Fire andrea mitchell ^ | May 3, 2013
http://www.freerepublic.com/focus/bloggers/3016355/posts
SO WHY DOESN’T SOROS BAIL PUERTO RICO OUT?
If that’s the case, bondholders should be happy to get dinged by at least 10% of their principal.
I wouldn’t. Puerto Rico is beautiful.
They need to fix their problems, but I’d never let it go.
The problem is, you buy the island, you buy the debt.
So it’s like one of those houses in Detroit that is for sale for $1, but if you buy it, you also buy 10 years of unpaid real estate tax bills. Not a good deal once you do the math.
A bail-out is unnecessary and politically impossible. A restructuring doesn’t cost taxpayers a nickel.
My plan:
Bail out PR
IF
They take back that POS Supreme Court Justice and replace her with Mike Lee.
The only things I can think of are stuff that Cubans make better but we cannot buy from Cuba because of the embargo.
Bingo! That’s the answer.
Jack Lew was on Fox Business this afternoon promoting that solution.
But take our $18.2 TRILLION in debt and divide it among our 300 million people and you come up with around $60,000 per person - or triple that of Puerto Rico.
Maybe my math is a little off.
Thanks for the link and info AuntB; makes a LOT of sense!
Exactly. And we should never bail out states or locals.
Yep. Doesn't seem to be too much.
My question is: Where did the 70 Billion bucks go?
Can it actually be seen as improvements in infrastructure on the island. Are there new roads, nice homes, new water mains, buildings etc.. Or did it just go for welfare payments to the populace for new clothes, cars, rent etc..
You are welcome, nopardons. More here with pics of the tweets of Ryan and Conda pushing this bailout.
Trump won’t bail out Puerto Rico, But Paul Ryan, his boss Cesar Conda & Congress will!
[snip]How often are these Rino globalists going to side with the left???
SELL OUTS: Paul Ryan, National Review Call For Puerto Rico Bailout For Hedge Fund Masters & Lobbyist Pals
Rep. Luis Gutierrez Delivers Impassioned Speech Calling For Puerto Rico Aid
http://towncriernews.blogspot.com/2016/05/trump-wont-bail-out-puerto-rico-but.html
We get great baseball players from the Dominican Republic without the financial burden.
The more info, the better and I send this stuff out to family, friends, and the two Tea Party news letters I write for and post links to. :-)
Hillary can’t make it a state. Congress can.
Puerto Rico had a very vibrant economy with strong corporate tax incentives for manufacturing. Congress did away with that. Then of course the politicos bought votes with freebies, and here we are, out of other people’s money.
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