Friday, September 29, 2017

Trump Upset With Puerto Rico's Debt

Reuters
Trump says Puerto Rico, U.S. government need to confront island's debt load
"Ultimately, the government of Puerto Rico will have to work with us to determine how this massive rebuilding effort, which will end up being one of the biggest ever, will be funded and organized and what we will do with the tremendous amount of existing debt already on the island,” Trump said at a conference sponsored by the National Association of Manufacturers."

We here on the mainland are a fine bunch to talk about managing budgets. Currently each and every U.S. citizen owes $61,908 towards the debt. The residents of Puerto Rico are accused of owing about another $34,000 on top of that.

Comparing Apples To Oranges
Here's the biggie--get ready for it. This president is trying to equate PR with hurricane ravaged states. According to 2014 census figures Texas citizens owe $1,664 apiece to it's state's debts. Louisianians $4,190. The largest owed are by those in Massachusetts--$11,337.
BTW--Pennsylvanians owe $3,745.


When this administration looks at money owed it compares Puerto Rico as if it were a state--it is not. PR doesn't receive the same consideration as states because it has no voting representation in congress. Yet sill having the gall to count them as U.S. citizens telling them they owe part of the U.S. debt on top of the PR island nation's too. What's with that?

Either It Is--Or--It Ain't Our Kid
Don't want to be responsible for PR--then say so.
Stop playing the doting father if you don't want to be part of their lives.


FINAL THOUGHTS
To those people who don't care. Either we help make the island habitable once again OR expect a mass exodus. Inhabitants may leave but the debts won't. Which would you rather. Pay to help them get back on their feet to overcome their debts OR absorb them instead? Either way there's a cost to be paid. This is what happens when the U.S. adopts an island nation as it's own.

2 comments:

  1. The People of Puerto Rico have rejected statehood numerous times. The benefits of non-statehood far outweigh the benefits of being the 51st state. Personally, let them bail themselves out and move on without their distractions.

    ReplyDelete
    Replies
    1. I'm not sure what PR is sending nw, but in 2009 it was almost $4b.

      let them bail themselves out

      That would be fine, but then the U.S. shouldn't be taking their money off the island. Divorce them.

      Delete

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