Puerto Rico to default further on debts

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katsung47
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Puerto Rico to default further on debts

Post by katsung47 »

Puerto Rico to default further on debts

Nathan Bomey, USA TODAY 5:42 p.m. EDT May 2, 2016

The confrontation between debt-swamped Puerto Rico and its creditors is intensifying as the U.S. territory will default on payments due Monday, deepening the island's financial crisis and placing additional pressure on Congress to intervene.

Puerto Rico to default further on debts
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Saint_
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Puerto Rico to default further on debts

Post by Saint_ »

Why we haven't annexed them decades ago is beyond me. They want us to. But it's things like this that probably spooked the rich autocrats in power...
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AnneBoleyn
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Puerto Rico to default further on debts

Post by AnneBoleyn »

They are 'annexed' but they can't be forced into statehood, it's voted upon every few years.
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Saint_
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Puerto Rico to default further on debts

Post by Saint_ »

AnneBoleyn;1495622 wrote: They are 'annexed' but they can't be forced into statehood, it's voted upon every few years.


Ah. thank you for setting me straight! But why on Earth would they not become a state?
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LarsMac
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Puerto Rico to default further on debts

Post by LarsMac »

Saint_;1495626 wrote: Ah. thank you for setting me straight! But why on Earth would they not become a state?


Because, until recently, a majority of Puerto Rico Residents vote against Statehood, whenever given the opportunity.
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Saint_
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Puerto Rico to default further on debts

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LarsMac;1495635 wrote: Because, until recently, a majority of Puerto Rico Residents vote against Statehood, whenever given the opportunity.


Hahaha, thanks for the circular answer. But WHY do they vote against statehood. It seems to me that becoming a part of the U.S. would be advantageous in all sorts of ways: trade, federal grants and subsidies, tourism, and infrastructure improvements just to name a few.
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LarsMac
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Puerto Rico to default further on debts

Post by LarsMac »

Some friends of mine from way back explained that most Puerto Ricans have long enjoyed the "Special Relationship" they had with the US.

But the economic value has faded over the last couple of decades.

In 2012, they began to tip the scale in favor of statehood.

The better question, now, should be, What's in it for the US to bring PR in as a full-fledged state?

GAO Confirms Statehood Too Costly for Puerto Rico and the U.S.
The home of the soul is the Open Road.
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tude dog
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Puerto Rico to default further on debts

Post by tude dog »

Really wished that I had run across Lar's answer because I had a hard time looking for such and answer.

Well, why not share what I got for ya all.

Reasons Why Puerto Rico Probably Won’t Become The...

Many Puerto Ricans are skeptical of statehood, saying formal inclusion in the union would do almost nothing to ameliorate pressing issues of unemployment, healthcare and housing.

Antonio Cuñarro, a shop owner in R�*o Piedras, said the debate amounted to empty rhetoric. “Each government just uses one side or the other to get elected,” he said. “It’s all the same.”

San Juan legislator Luis Gallardo agreed, saying the campaign “exists only in the imagination of our statehood politicians. A lot of people have tried to piggyback on the issue.”

Gallardo said he was ambivalent: “I don’t know what’s worse, not having federal bankruptcy powers or having federal income taxes on top of the highest local taxes in the country.”

Others balked at becoming the 51st state. Attorney Manuel Rodriguez said statehood could help Puerto Ricans with access to the justice system, bankruptcy options and federal intervention, but “it’s no magic solution and would not necessarily mean progress. There’s also no chance it will happen, given Congress.”


Colony, state or independence: Puerto Rico's status anxiety adds to debt crisis
What happened to Kamala Harris' campaign?
She had the black vote all locked up.
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LarsMac
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Puerto Rico to default further on debts

Post by LarsMac »

A bill was introduced to the House in February 2015 to cinsider PR Statehood.

It has not got far.

https://www.congress.gov/bill/114th-con ... l/727/text
The home of the soul is the Open Road.
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