Keyword: puertorico

Brevity: Headers | « Text »
  • Zika Is Spreading Fast In Puerto Rico, Could Reach 25% Of Population

    06/17/2016 1:50:18 PM PDT · by Tilted Irish Kilt · 47 replies
    Buzzfeed ^ | Jun. 17, 2016 | Dan Vergano
    About 1.1% of blood donors in Puerto Rico are testing positive for the Zika virus. The blood screening suggests that about 25% of the island’s population will catch Zika this year. The Zika virus is spreading “rapidly” in Puerto Rico and now likely afflicts 2% of the island’s population with active infections, public health officials reported on Friday, based on tests of blood donors. At current infection rates, one-quarter of the island’s 3.5 million people will eventually acquire the mosquito-borne illness, U.S. CDC officials said. Current estimates are that 1% to 13% of babies born to women infected with Zika...
  • Huge Columbus statue unveiled in Puerto Rico

    06/17/2016 7:39:17 AM PDT · by cll · 28 replies
    Reuters ^ | 6/15/2016
    A giant statue of the Italian explorer Christopher Columbus was unveiled in Arecibo on the northern coast of Puerto Rico on Tuesday (June 14). Russian-based sculptor, Zurab Tsereteli, created the 268 ft (81,68 meter) monument from 2,500 pieces of bronze and steel manufactured in Russia and some 2,000 sq. ft (185.80 sq. meters) of copper sheets. The statue, entitled 'Birth of a New World,' and weighing in at 6,500 tons, is almost twice the height of New York's Statue of Liberty without its base, and is double the height of Rio's Christ the Redeemer. The artwork took over 110,000 hours...
  • In the Dead in Orlando, Puerto Ricans Hear a Roll Call of Their Kin

    06/15/2016 11:51:57 AM PDT · by cll · 19 replies
    The New York Times ^ | 6/14/2016 | Lizette Alvarez and Nick Madigan
    ORLANDO, Fla. — Ortiz. Rivera. González. Almodóvar. As the names of the victims of Sunday’s massacre here rolled out, this slice of the United States — known as the unofficial 79th municipio, or municipality, of Puerto Rico — felt a communal shudder. It was a roll call of Puerto Ricans, gay and straight, who had gathered to dance and hear salsa music at the club and died in the barrage of bullets. Like so many others, they were here, in this booming Central Florida metropolitan area of nearly 400,000 Puerto Ricans, because it has become a Puerto Rican touchstone: Spanish...
  • McConnell: Senate to consider Puerto Rico aid by end of June

    06/14/2016 3:13:13 PM PDT · by Olog-hai · 17 replies
    Associated Press ^ | Jun 14, 2016 3:28 PM EDT | Mary Clare Jalonick
    Majority Leader Mitch McConnell said Tuesday the Senate will consider a rescue package to ease Puerto Rico’s financial crisis before the U.S. territory’s $2 billion payment to creditors is due July 1. The House overwhelmingly passed legislation to create a new control board and restructure some of Puerto Rico’s $70 billion debt last week. The Senate is expected to take up the same bill “sometime before the end of the month,” McConnell, R-Ky., told reporters Tuesday. Puerto Rico has already missed several payments to creditors while a lengthy recession has crippled commerce, sparked unemployment and driven hundreds of thousands of...
  • Supreme Court rules Puerto Rico can't restructure debt

    06/13/2016 9:54:44 AM PDT · by ColdOne · 17 replies
    thehill.com ^ | 6/13/16 | Lydia Wheeler
    The Supreme Court ruled Monday that Puerto Rico can't restructure the debts of its public utilities to avoid a financial crisis, closing off one of the island's last remaining options for avoiding default without help from Congress. In a 5-2 ruling, the justices said that although the government and people of Puerto Rico should not have to wait for possible congressional action to avert a financial crisis, the Constitution does not allow them to rewrite a statute that Congress enacted in 1984. While states can allow municipalities to seek such debt relief, the lower court said, Congress had not given...
  • Paul Ryan’s Primary Challenger: ‘I Don’t Care About Puerto Rico’

    06/12/2016 6:32:01 AM PDT · by cotton1706 · 17 replies
    dailycaller.com ^ | 6/9/16 | JulieGrace Brufke
    House Speaker Paul Ryan’s primary opponent Paul Nehlen said the Puerto Rico debt crisis should not be a top priority for the representative of Wisconsin’s 1st congressional district in an exclusive interview with The Daily Caller News Foundation. “I don’t care about Puerto Rico,” Nehlen told TheDCNF. “I care about people in this country dying from heroin.” The businessman said the island, which faces a $70 billion debt burden and recently defaulted on a major loan payment, should be responsible for fixing its fiscal predicament, and slammed Ryan for supporting a bill Nehlen sees as a massive taxpayer bailout. “The...
  • David Brat: The Paul Ryan Puerto Rico Rescue Bill “Turns People Into Subjects”…

    06/10/2016 2:04:44 PM PDT · by dontreadthis · 32 replies
    The Last Refuge ^ | June 10, 2016 | sundance
    Yesterday House Speaker Paul Ryan pushed through a Puerto Rico Rescue bill called PROMESA. The details of the bill are fundamentally challenging to understand in scope, however, the key aspect to remember is the underlying benefactor(s) – Wall Street. While Ryan is severely adverse to PROMESA being called a bailout, that’s exactly what it is – only worse. The plan structurally changes the dynamics of how State debt is repaid, and the considerations for bondholders under the 5th amendment (seizure of private property w/out compensation); which will lead to a guaranteed bondholder bailout. However, beyond the ‘bailout’ aspect there is...
  • House Passes Puerto Rico Debt Relief Bill

    06/09/2016 6:05:32 PM PDT · by Hojczyk · 38 replies
    Newsmax ^ | June 9,2016
    The legislation was bolstered by rare bipartisan cooperation between the White House and the House's Republicans and Democrats over the past six months. House Speaker Paul Ryan urged Congress to act quickly on the "Puerto Rico Oversight, Management and Economic Stability Act" (PROMESA), warning lawmakers of a "deepening crisis" on the island. "Now the island is shutting down," Ryan said, with "closed schools; hospitals are beginning to close, that's today. Tomorrow there could be policemen without cars, there could be blackouts at hospitals." Nevertheless, some lawmakers feared that allowing Puerto Rico to restructure its $70 billion debt in a way...
  • House-Passed Debt Relief for Puerto Rico Splits Conservatives

    06/10/2016 5:34:48 AM PDT · by milton23 · 16 replies
    The Daily Signal ^ | 6/10/2016 | Josh Siegel
    Reps. Louie Gohmert of Texas and Dave Brat of Virginia were among the conservatives who voted against a bill to address Puerto Rico's debt crisis. (Photo: Willis Bretz for The Daily Signal) A bill establishing a legal framework for Puerto Rico to restructure its $72 billion debt load passed the House Thursday by a 297-127 vote after months of haggling between the Obama administration, Democrats, bondholders, unions, Puerto Rico officials—and conservatives. About the only thing conservatives agree on about legislation the House passed Thursday night providing rescue to Puerto Rico’s debt crisis is that it’s not a bailout. “There are...
  • How Socialism Failed Venezuela

    06/10/2016 4:17:30 AM PDT · by lowbridge · 23 replies
    Usnews.com ^ | June 6, 2016 | Andres Malave
    The force that is driving Venezuela into the ground is socialism. I've had a front-row seat to the consequences of socialism, watching the hardships of my friends and family in Venezuela. I read the messages telling me they had to go to five different markets that day to find bread. Even basic staples like Harina-Pan are missing from the shelves or skyrocketing in price. I've heard them break down crying because they lack basic needs like toilet paper. And I hear the fear of not knowing what's next or when these struggles will end. In the midst of this chaos,...
  • SCOTUS strikes down Puerto Rico's dual sovereignity

    06/09/2016 7:42:59 AM PDT · by cll · 36 replies
    SCOTUS Blog ^ | 6/09/2016
    In 1950, Congress enacted Law 600, which authorized the people of Puerto Rico (PR) to organize a government pursuant to aconstitution of their own adoption. The PR people capitalized on that opportunity, calling a constitutional convention and overwhelmingly approving the charter it drafted. Once Congress approved that proposal—subject to several important conditions accepted by the convention the Commonwealth of PR, a new political entity, came into being. Those constitutional developments were of great significance and, indeed, made PR “sovereign” in one commonly understood sense of that term. At that point, Congress granted PR a degree of autonomy comparable to that...
  • Most Americans Don’t Know the Citizenship of Puerto Ricans

    06/09/2016 6:35:42 AM PDT · by cll · 33 replies
    The Wall Street Journal ^ | 6/09/2016 | Nick Timiraos
    Pop quiz: What’s the national citizenship of people born in Puerto Rico to parents who were also born in Puerto Rico? If you don’t know the answer to that question, you’re not alone. Puerto Ricans are U.S. citizens, but only 43% of Americans answered correctly in a recent Economist/YouGov poll. Some 41% said they were citizens of Puerto Rico, while another 15% weren’t sure. The statistic underscores one challenge Congress has faced as it considers legislation to address the island’s debt crisis: The issue hasn’t been a high priority for lawmakers partly because their constituents aren’t aware that Puerto Ricans...
  • How Do You Convince Members of an “Independent” Control Board to Follow Your Agenda?

    06/08/2016 9:14:02 AM PDT · by K Street Eyes
    Mainstreet Bondholders ^ | June 8, 2016 | Press Release
    (Brandon Garabrant is seen in his military uniform in Greenfield, N.H., before he was killed in the line of duty, June 20, 2014, in Afghanistan. When Garabrant graduated from high school he wanted to wear his Marine uniform but school officials said policy bans uniforms and requires graduates to wear blue caps and gowns. A new state law passed this year now allows high school graduates to wear their military uniforms if they have completed basic training.) CONCORD, N.H. — Can the cap and gown worn by high school graduates coexist peacefully with military uniforms worn by classmates destined...
  • Sanders camp: Clinton has not secured nomination yet

    06/06/2016 6:29:34 PM PDT · by maggief · 83 replies
    The Hill ^ | June 6, 2016 | Cyra Master
    Shortly after The Associated Press updated its delegate count and declared Hillary Clinton the presumptive Democratic presidential nominee, a spokesman for Sen. Bernie Sanders slammed the media’s “rush to judgement.” “It is unfortunate that the media, in a rush to judgement, are ignoring the Democratic National Committee’s clear statement that it is wrong to count the votes of superdelegates before they actually vote at the convention this summer,” spokesman Michael Briggs said Monday night. “Secretary Clinton does not have and will not have the requisite number of pledged delegates to secure the nomination. She will be dependent on superdelegates who...
  • Clinton Wins Puerto Rico Primary, Now Just Shy Of Clinching Nomination

    06/05/2016 7:55:43 PM PDT · by blueyon · 10 replies
    NPR.org ^ | 6/05/16 | Arnie Seipel
    Hillary Clinton won today's Democratic primary in Puerto Rico, according to the Associated Press. With about a quarter of precincts reporting, Clinton had about two-thirds of the vote. Vermont Sen. Bernie Sanders had about one-third. Delegates from Puerto Rico put Clinton just shy of the 2,383 delegates she needs to clinch the Democratic nomination — and become the first woman to win the nomination of a major party in American politics. The Associated Press puts her less than 30 delegates from that threshold.
  • Clinton On Cusp of Winning Democratic Nomination As Puerto Rico Votes (must have 54/60)

    06/05/2016 5:33:45 PM PDT · by drewh · 31 replies
    CNN ^ | 6:42 PM ET, Sun June 5, 2016 | Eric Bradner
    Hillary Clinton is on the cusp of clinching the Democratic presidential nomination, and could move closer as Puerto Rico's primary results are announced Sunday night. The former secretary of state is competing with Vermont Sen. Bernie Sanders to win a majority of Puerto Rico's 60 delegates. Clinton began the day 60 delegates shy of the 2,383 she needs to win the Democratic nomination -- with 1,776 pledged delegates and another 547 superdelegates. Sanders, meanwhile, started Sunday with 1,547 delegates total: 1,501 pledged delegates and another 46 superdelegates. Clinton is closing in on a historic nomination as the first female presidential...
  • Hillary Clinton Closes in on Democratic Nomination as Puerto Rico Votes

    06/05/2016 12:02:02 PM PDT · by Trump20162020 · 26 replies
    Time ^ | June 5, 2016 | Danica Coto
    Puerto Ricans frustrated by the island’s economic crisis voted Sunday in the U.S. territory’s Democratic presidential primary and local elections, as front-runner Hillary Clinton drew closer to securing the number of delegates needed to win her party’s White House nomination. After a blowout victory Saturday in the U.S. Virgin Islands, Clinton was just 60 delegates short of the 2,383 needed to win the Democratic nomination and advance to the November general election, according to an Associated Press count. There were 60 pledged delegates at stake in Puerto Rico. Clinton would need to win more than 85 percent of the vote...
  • Ryan secures big win with bipartisan Puerto Rico deal

    05/24/2016 5:42:52 AM PDT · by jimjohn · 47 replies
    The bipartisan deal to tackle Puerto Rico’s debt crisis represents Paul Ryan’s first big victory as Speaker. While the Wisconsin Republican has notched other wins on highway, education and government funding during his short, nearly seven-month tenure, former Speaker John Boehner (R-Ohio) had a hand in all of those negotiations.
  • Puerto Rico...Who Is Susheel Kirpalani?

    05/23/2016 8:39:09 AM PDT · by K Street Eyes
    Daily Surge ^ | K Street Eyes
    Hope you enjoy. To Sir, With Love
  • I Faced This Terrorist and Kept Him in Prison: Lopez Not a 'Political Prisoner'

    05/20/2016 5:46:34 PM PDT · by Kaslin · 5 replies
    Townhall.com ^ | May 20, 2016 | Joe Connor
    On Monday, while campaigning in San Juan Puerto Rico, Democratic presidential candidate Bernie Sanders publicly urged President Obama to grant clemency to Oscar Lopez-Rivera, calling him a “political prisoner.” Sanders promised to pardon Lopez if elected President. Oscar Lopez is in no way a “political prisoner” but, rather, a remorseless, convicted terrorist who was, during the 1970s and 1980s, a leader of the Armed Forces of Puerto Rican National Liberation, or “FALN”, the most active domestic terrorist organization in American history. Among its numerous violent acts was the planting of a bomb during a busy Friday lunch hour in Fraunces...
  • Ryan strikes Puerto Rico debt deal with Obama administration

    05/19/2016 4:27:32 PM PDT · by GilGil · 41 replies
    Politico ^ | 5/19/2016 | Rachael Bade and Colin Wilhelm
    ...Paul Ryan has reached a tentative deal with the Treasury Department on a rescue package to ease Puerto Rico's debt crisis, according to House Natural Resources Chairman Rob Bishop, who has been leading negotiations. “We are moving forward — there is a deal,” the Utah Republican said Wednesday afternoon, adding that legislative text of the deal would be released later on Wednesday. Details of that deal were released by Bishop’s committee Wednesday night, when the bill was introduced. The agreement represents a breakthrough on an issue that has been stuck in congressional limbo for months. Ryan (R-Wis.) said last year...
  • U.S. House Unveils Retooled Promesa for Puerto Rico

    05/19/2016 4:25:28 AM PDT · by cll · 11 replies
    Caribbean Business ^ | 5/19/2016 | Luis J. Valentin
    SAN JUAN — Following several setbacks, the U.S. House Natural Resources Committee finally released its new version of the Puerto Rico Oversight, Management & Economic Stability Act (Promesa), Congress’ latest effort to “bring lawful order to chaos in Puerto Rico,” reads a summary of the bill released late Wednesday. In doing so, the committee says it is not providing access to Chapter 9 of the U.S. Bankruptcy Code, there is no threat of contagion to the rest of the municipal bond market and no precedent is being established for other troubled U.S. states. The bill, now HR 5278, could go...
  • Bernie's Thug Life

    05/19/2016 2:57:38 AM PDT · by Biggirl · 13 replies
    Frontpagemag.com ^ | May 19,2016 | Mathew Vadum
    The reason Bernie Sanders pointedly refuses to condemn his supporters for throwing chairs and making death threats against Democrat officials at and after the party’s Nevada convention is because he doesn’t actually object to their violent behavior. Sanders blew off pressure from Democrat leaders to disavow ugly tactics by his supporters at the event Saturday evening, calling the complaints “nonsense” and arguing that his supporters were not treated with "fairness and respect."
  • After delays, House GOP moves forward to help Puerto Rico

    05/18/2016 10:36:06 PM PDT · by Olog-hai · 26 replies
    Associated Press ^ | May 19, 2016 1:26 AM EDT | Mary Clare Jalonick
    After weeks of delays, House Republicans are moving forward with legislation to help Puerto Rico manage $70 billion in debt. A revised bill introduced late Wednesday would create a control board to help manage the U.S. territory’s financial obligations and oversee some debt restructuring. Though it is the third version of the legislation, those objectives remain unchanged. House Natural Resources Committee Chairman Rob Bishop, R-Utah, has led negotiations on the bill and has worked closely with House Speaker Paul Ryan, R-Wisc., congressional Democrats and the White House. The aim has been to write legislation that could pass both the House...
  • Tourism Industry in Cash-Stapped Puerto Rico Attempts to Calm Zika Fears

    05/18/2016 12:46:42 PM PDT · by cll · 17 replies
    ABC News ^ | 5/14/2016 | Susanna Kim
    Puerto Rico's tourism industry is hoping to ease tourists' concerns about the Zika virus on the cash-strapped island, describing the extra precautions businesses are taking. "We feel this has been blown out of proportion," Clarisa Jimenez, president and CEO of the Puerto Rico Hotel and Tourism Association told ABC News. "We have taken all the measures that the CDC has recommended from day one." Tourism is particularly important to Puerto Rico, as the U.S. commonwealth struggles through its recession and its inability to pay $72 billion in public debt. Puerto Rico's hotel business comprises about 7.1 percent of the island's...
  • Why Puerto Rico is in trouble

    05/14/2016 10:18:41 AM PDT · by ChessExpert · 55 replies
    The Economist ^ | May 11th, 2016 | A.A.K.
    The island’s troubles have their origin in an era of corporate tax incentives in the 1970s that exempted firms from paying federal taxes on profits earned in Puerto Rico. This was done to prevent tax-allergic American companies from setting up shop outside the country. Pharmaceutical, textile and electronics companies flocked to the island to spark a manufacturing boom that lasted for around two decades. In 1996, the American government, under the Clinton administration, started weaning Puerto Rico off these tax breaks to offset some of the country’s federal deficit. The largesse disappeared entirely in 2006 and its economy has suffered...
  • [Puerto Rico] "Humanitarian crisis" is a White House strategy

    05/13/2016 6:43:54 AM PDT · by cll · 14 replies
    El Vocero (Google translation) ^ | 05/13/2016 | Laura M. Quintero
    Puerto Rico Secretary of Economic Development and Commerce (DDEC), Alberto Bacó Bagué, distanced himself from Governor Alejandro Garcia Padilla's strategy to project to the island as facing a humanitarian crisis. The head of the DDEC maintains that the humanitarian crisis in the island is a strategy of the Secretary of United States Department of the Treasury, Jacob Lew. He stressed that Puerto Rico is being affected by a conflict between the Republican Party and the Democratic Party. "This is a strategy by Mr. Treasury Secretary, he is well respected, but it is a strategy in his mind and I worry...
  • Major League Baseball Throws a Spitball at Puerto Rico

    05/12/2016 7:34:42 AM PDT · by Sean_Anthony · 5 replies
    Canada Free Press ^ | 05/12/16 | Michael Fumento
    It's hysteria, Carlos Beltran. Pure hysteria. Puerto Rico was thrown out of the game before it even entered the stadium It’s a common theme of mine that the American spirit is growing steadily weaker. One way in which we see that is the propensity to become hysterical at the least provocation, the proverbial elephant afraid of the mouse. Witness the ongoing hysteria over the mosquito-borne Zika virus. The latest victim is the impoverished U.S. territory of Puerto Rico, which has struck out with Major League Baseball. A two-game series scheduled for the territory is being moved to Miami. Why? The...
  • Donald Trump won't bail out Puerto Rico

    05/09/2016 1:14:14 PM PDT · by Beautiful_Gracious_Skies · 94 replies
    CNN -Money ^ | May 7, 2016 | Heather Long
    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.
  • De Blasio blames US racism for Puerto Rico’s money problems

    05/08/2016 2:04:30 AM PDT · by EinNYC · 48 replies
    NY Post ^ | May 8, 2016 | Mary Kay Linge
    Racism is to blame for Puerto Rico’s dire fiscal situation, Mayor de Blasio charged Saturday. “The backs of the United States government turned on them, while a health-care crisis grows, a humanitarian crisis grows, the Zika crisis grows,” he said in a speech at the National Action Network in Harlem.
  • Puerto Rico's hyped "humanitarian crisis" narrative backfires

    05/05/2016 5:00:20 AM PDT · by cll · 11 replies
    The "humanitarian crisis" narrative fueled by the administration of Puerto Rico Governor Alejandro García Padilla, together with the fiscal crisis and the impact of the transmission of the Zika virus, is backfiring on the government of Puerto Rico, costing millions of dollars in revenue and affecting directly tourism, one of the few economic sectors that produce positive results for the U.S. territory. While it is true that the spread of Zika has had a strong impact on attracting tourists, groups and conventions to the island, this factor has been lagging in third place, taking the head "humanitarian crisis" narrative followed...
  • How to turn Puerto Rico into Hong Kong

    05/02/2016 10:27:48 AM PDT · by SeekAndFind · 38 replies
    Washington Times ^ | 05/02/2016 | Stephen Moore and Arthur Laffer
    Later this week or next, Congress will take up legislation to rescue the commonwealth of Puerto Rico from its financial crisis that is getting worse by the day. Puerto Rico faces more than $70 billion of debt and the government is already in technical default on many of its bonds. Billions more come due in weeks ahead and the government says they are out of money to repay. These debts don’t even include an additional $43.2 billion of unfunded pension liabilities. Add it all together and the debt reaches at least 150 percent of GDP. That’s a lot of weight...
  • Puerto Rico Says Will Default Tomorrow, Begs Congress For Help "Or Else Crisis Will Get Worse"

    05/01/2016 4:39:02 PM PDT · by tcrlaf · 64 replies
    Zerohedge ^ | 5-1-2016 | Durden
    Update: PR Governor Padilla has spoken... -PUERTO RICO GOVERNOR SAYS WON'T PAY DEBT TOMORROW -PUERTO RICO GOVERNOR SAYS ISLAND WON'T PAY DEBT MONDAY -PUERTO RICO GOVERNOR: GOVERNMENT SIGNED MORATORIUM BILL YESTERDAY -PUERTO RICO NEEDS DEAL W/ CREDITORS AND/OR CONGRESS: GARCIA And of course, demands a bailout... -PUERTO RICO GOVERNOR CALLS ON U.S. CONGRESS, PAUL RYAN FOR HELP And then threatens... -CRISIS WILL GET WORSE IF U.S. CONGRESS DOESN'T HELP: GARCIA -PUERTO RICO GOVERNOR CONCLUDES REMARKS TO COMMONWEALTH A default on the $422 million due today is "virtually certain," S&P Global Ratings said April 11.
  • Congress, Not Obama’s Cronies, Can Save Puerto Rico

    04/27/2016 8:11:32 AM PDT · by Sean_Anthony · 4 replies
    Canada Free Press ^ | 04/27/16 | Megan Barth
    Speaker Ryan has made it crystal clear that House Republicans' number one priority is to shield American taxpayers from a bailout of Puerto Rico My problem lies in reconciling my gross habits with my net income.—Errol Flynn Due to Puerto Rico’s gross habits, the commonwealth has amassed a total debt of over $72 billion and has already defaulted on $221 million of its’ debt. When unfunded liabilities (pensions) are included, these additional costs bring the total value of their debt closer to $165 billion, approximately $150% of its’ GDP.
  • Paul Ryan's Biggest Test Yet: Saving Puerto Rico From Congress

    04/25/2016 9:09:11 AM PDT · by yoe · 29 replies
    Daily Read List ^ | April 25, 2016 | Billy House
    Puerto Rico’s complex debt crisis is shaping up as the first true test of Paul Ryan’s six-month old speakership.[snip] The high stakes explain why Ryan’s office has been involved -- often behind the scenes -- from the start. It could also ultimately find him having to strong-arm or bypass fellow conservatives, a move that would also break his promise for a new, bottom-up approach to running the House. Either way, time is running short. Congress is already blowing through a May 1 debt repayment deadline and Ryan needs to get something through both chambers before July 1 to avoid a...
  • Obama Cronies Cashing in on Puerto Rican Debt Crisis

    04/15/2016 11:15:38 AM PDT · by Kaslin · 6 replies
    Townhall.com ^ | April 15, 2016 | Brian McNicoll
    It’s not just the chickens that have come home to roost in Puerto Rico. It’s the hacks as well. The whole thing can be summed up in two words – Hack City. There were the public-sector union hacks whose contracts drove the Commonwealth into what is now estimated at $72 billion in debt. There were the government officials who encouraged this profligacy with indulgent hiring. There are the hacks in Washington who just want to send a big check and forget the whole thing, rather than insist on the reforms that put Puerto Rico in these straits in the first...
  • Paul Ryan: Don’t Call My Puerto Rico Bailout a “Bailout”, Call It “Restructuring”

    04/14/2016 10:53:40 AM PDT · by detective · 22 replies
    Conservative Treehouse ^ | 13 Apr 2016 | Sundance
    Please insert a big fat TOLDYASO right here. Speaker of the House Paul Ryan is lashing out at opponents to his Puerto Rico bailout bill demanding they stop calling it a “bailout”. Instead Ryan demands his opposition use the gaslighting term “restructuring”. Hogwash.
  • Committee on Natural Resources Releases Puerto Rico Legislation

    04/13/2016 9:10:59 AM PDT · by cll · 11 replies
    Today, the House Committee on Natural Resources released H.R. 4900, the “Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA).” Committee Chairman Rob Bishop (R-UT) and bill sponsor Rep. Sean Duffy (R-WI) issued the following statements: “We are nearing the conclusion of a collaborative and open drafting process that has involved all stakeholders to reach a responsible consensus. “This package of reforms will restore the guardrails of freedom and self-governance in Puerto Rico. It will hold Puerto Rico accountable to its debt, uncover audited financial statements, enforce fiscal responsibility and cut red tape holding down the Island’s economy. It provides...
  • Puerto Rico legislature ignores Constitutions, gives Governor sweeping powers

    04/06/2016 10:13:02 AM PDT · by cll · 29 replies
    The draft "Law on Moratorium Emergency and Financial Rehabilitation of Puerto Rico" would give many absolute and unilateral powers to governor Alejandro García Padilla, including the option of expropriating properties from private companies that refuse to continue to provide services to the Government during an emergency declaration. According to the bill, which was approved this morning in the House of Representatives after being approved in the Senate yesterday, the governor "may take all reasonable and necessary measures to continue providing essential public services and protect the health, safety and welfare, including, without limitation, expropriating property rights of a contractor". That...
  • Walmart wins suit against Puerto Rico; tax declared invalid

    03/28/2016 8:20:31 PM PDT · by cll · 12 replies
    AP via Yahoo! News ^ | 3/28/2016 | Danica Cotto
    <p>SAN JUAN, Puerto Rico (AP) — Retail giant Walmart won a legal victory Monday in a fight over taxation by Puerto Rico's government.</p> <p>A federal judge in the U.S. island territory ruled that a modified tangible-property tax is invalid. The ruling was issued as Puerto Rico's government rushes to find new sources of revenue and a debt restructuring mechanism from the U.S. Congress while struggling through a decade-long economic crisis.</p>
  • Walmart wins suit against Puerto Rico; tax declared invalid

    03/28/2016 6:53:05 PM PDT · by Olog-hai · 11 replies
    Associated Press ^ | Mar. 28, 2016 7:54 PM EDT | Danica Coto
    Retail giant Walmart won a legal victory Monday in a fight over taxation by Puerto Rico’s government. A federal judge in the U.S. island territory ruled that a modified tangible-property tax is invalid. The ruling was issued as Puerto Rico’s government rushes to find new sources of revenue and a debt restructuring mechanism from the U.S. Congress while struggling through a decade-long economic crisis. Gov. Alejandro Garcia Padilla said his government will appeal the decision. “The judge just took away $100 million from the people of Puerto Rico and gave it to Walmart,” he said, referring to the revenue the...
  • Plan to Rescue Puerto Rico Advances, Led by House Republicans

    03/24/2016 5:48:20 PM PDT · by cll · 22 replies
    The New York Times ^ | 3/24/2016 | Mary Williams Walsh
    Politicians in Washington are coalescing around a financial plan to rescue Puerto Rico, just weeks before an expected major default on bond payments that would spread more turmoil through the island’s shaky economy. The plan, being drafted as legislation by House Republicans, would not grant Puerto Rico’s most fervent request: permission to restructure its entire $72 billion debt in bankruptcy. It would, however, give the island certain crucial tools that bankruptcy proceedings can offer — but only if it first comes under close federal oversight and meets other conditions. The oversight would be provided by a five-member voting board, selected...
  • California man faces sex trafficking charge in Puerto Rico

    03/24/2016 7:59:33 AM PDT · by cll · 10 replies
    SAN JUAN, Puerto Rico (AP) — Federal authorities in Puerto Rico have arrested a California man who allegedly traveled to Puerto Rico to have sex with a minor. U.S. Immigration and Customs Enforcement said Wednesday that 38-year-old Shane Yoder of Fairfield told an undercover agent he was going to the U.S. territory to have sex with a 9-year-old girl. He has been charged with attempted sexual trafficking of minors. It was not immediately clear if he had an attorney. Yoder was the president of the Islamic Circle of North America chapter in Sacramento, California.
  • Sotomayor Helps Puerto Rico Argue Its Bankruptcy Case [Worst Ever Supreme Court Appointment!]

    03/23/2016 6:42:06 PM PDT · by Steelfish · 30 replies
    YahoNews ^ | March 23, 2016 | Noah Feldman
    Sotomayor Helps Puerto Rico Argue Its Bankruptcy Case Noah Feldman Before Tuesday, I’d have said that Puerto Rico had no chance to win its legal fight to let its municipalities and utilities declare bankruptcy. That's how the island hopes to resolve its overwhelming debt problems, but the federal bankruptcy code says that it can't. That's what the U.S. Court of Appeals for the First Circuit held last summer, unanimously. The statute seemed so clear that even Judge Juan Torruella, the appellate court’s only Puerto Rican member, concurred in an outraged separate opinion criticizing the federal law. Then Sonia Sotomayor stepped...
  • Rihanna is Moving to San Juan, Puerto Rico

    03/23/2016 9:25:02 AM PDT · by cll · 36 replies
    In a surprise to everyone in Los Angeles and probably most people in San Juan, Puerto Rico, pop superstar Rihanna announced today in an interview that she is moving to San Juan. Rihanna said that she was “tired of the L.A. lifestyle” and wanted to “live in a place where people are real and genuine”. She recently visited the area for a few days and, according to her publicist, “Rihanna has been to San Juan many times in the past but this time she just felt so strongly that this is the place she needs to be at this time...
  • Sotomayor Helps Puerto Rico Argue Its Bankruptcy Case

    03/23/2016 8:14:01 AM PDT · by oblomov · 21 replies
    Bloomberg View via Yahoo! Finance ^ | 23 Mar 2016 | Noah Feldman
    Before Tuesday, I’d have said that Puerto Rico had no chance to win its legal fight to let its municipalities and utilities declare bankruptcy. That's how the island hopes to resolve its overwhelming debt problems, but the federal bankruptcy code says that it can't. That's what the U.S. Court of Appeals for the First Circuit held last summer, unanimously. The statute seemed so clear that even Judge Juan Torruella, the appellate court’s only Puerto Rican member, concurred in an outraged separate opinion criticizing the federal law. Puerto Rico's Slide Then Sonia Sotomayor stepped in. Oral arguments before the Supreme Court...
  • Will Obama Demand Cuba Hand Over Fugitive Cop-Killer?

    03/22/2016 7:14:27 AM PDT · by george76 · 25 replies
    NBC ^ | Mar 20 , 2016 | Tom Winter
    White House officials would not tell NBC News whether President Obama will raise the issue of 70 fugitives from U.S. justice — including convicted cop-killer JoAnne Chesimard — who are hiding in Cuba when he meets Cuban leaders during his visit to the island. ... Chesimard, who fled to Cuba in 1984 after escaping from a New Jersey prison in 1979, was convicted of the 1973 execution-style murder of New Jersey State Trooper Werner Foerster. She is on the FBI's Most Wanted International Terrorists list, and is the most notorious of a group of criminals and violent radicals who have...
  • Denmark world's happiest country, Burundi least: new report shows

    03/16/2016 1:30:27 PM PDT · by cll · 17 replies
    Reuters ^ | 3/16/2016 | Philip Pullella
    Denmark overtook Switzerland as the world's happiest place, according to a report on Wednesday that urged nations regardless of wealth to tackle inequality and protect the environment. The report, prepared by the Sustainable Development Solutions Network (SDSN) and the Earth Institute at Columbia University, showed Syria, Afghanistan and eight sub-Saharan countries as the 10 least happy places on earth to live. The top 10 this year were Denmark, Switzerland, Iceland, Norway, Finland, Canada, Netherlands, New Zealand, Australia, and Sweden. Denmark was in third place last year, behind Switzerland and Iceland. The bottom 10 were Madagascar, Tanzania, Liberia, Guinea, Rwanda, Benin,...
  • Federal judge upholds Puerto Rico's same-sex marriage ban

    03/15/2016 6:05:56 AM PDT · by cll · 13 replies
    Christian Today ^ | 3/15/2016 | John Hicap
    A U.S. federal judge has upheld Puerto Rico's ban on same-sex marriage and ruled that the U.S. Supreme Court's ruling last year that legalised gay marriage does not apply to Puerto Rico since it is an "unincorporated territory" and not a U.S. state. In his decision, U.S. District Court Judge Juan Perez-Gimenez wrote, "One might be tempted to assume that the constant reference made to the 'States' in Obergefell includes the Commonwealth of Puerto Rico. Yet, it is not the role of this court to venture into such an interpretation." He said, "For the foregoing reasons, the court concludes that...
  • Democrats propose allowing Puerto Rico to declare bankruptcy

    03/14/2016 12:13:04 PM PDT · by jazusamo · 25 replies
    The Hill ^ | March 14, 2016 | Peter Schroeder
    Senate Democrats have unveiled legislation to alleviate Puerto Rico’s debt woes, urging that the island be allowed to declare bankruptcy on all of its debt. The bill, released Monday, would allow the U.S. territory to restructure its $72 billion in outstanding debt and create a fiscal oversight board for the island. “For the 3.5 million American citizens living on the island of Puerto Rico, time is running short,” said Sen. Bob Menendez (D-N.J.), one of the bill’s sponsors. “Congress has to act immediately to fix the federal funding shortfalls and give Puerto Rico the tools it needs to fully restructure...