Puerto Rico -- Another Victim of Democrat Reign Goes To Ruin

Run (into the ground) by decades of Democrat misrule, the Commonwealth of Puerto Rico circles the drain towards default of over $70 billion in bonds. 

http://www.bloomberg.com/news/...and-feel-out-of-luck

With English and Spanish as equally popular, no federal income tax for those living there over a number of years, and the gorgeous weather, the island should be prosperous.  Unfortunately, they suffer from a disease as mind deadening as the zombie disease of fiction -- Democrats, which, are unfortunately, fact.

Best bet is for Congress to assign a financial control board like they did for DC. The board would have all the power to hire and fire, restructure government and other public services, to negotiate with bond holders to restructure the bonds.

TRUTH -- THE NEW HATE SPEECH!

Original Post

My understanding is that the bill in congress provides for a financial control board and restructuring the debt, not canceling it -- no federal bailout.  Dems are hesitant because of the board that usurps the present government (same thing done in DC).  The bill sounds reasonable.

I invest in some munis and state bonds for their tax free status.  However, I never buy any from a government run by Democrats. 

I don't think the bill has much chance of passing, conservatives don't have enough trust in Ryan and there aren't any freebies for the Dems. Mebbe we need a good example of a bad example of governance for voters to understand where the US is going if we keep voting for the same crooks doing the same things that sank Puerto Rico. 

Stanky posted:

I don't think the bill has much chance of passing, conservatives don't have enough trust in Ryan and there aren't any freebies for the Dems. Mebbe we need a good example of a bad example of governance for voters to understand where the US is going if we keep voting for the same crooks doing the same things that sank Puerto Rico. 

For examples, we have nearly every large city ruled by Democrats for decades. Yet, it still hasn't sunk in with the majority of voters.  

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