Governor: Puerto Rico Won’t Make $420 Million Debt Payment – IOTW Report

Governor: Puerto Rico Won’t Make $420 Million Debt Payment

puerto rico

NBC: Gov. Alejandro Garcia Padilla announced that Puerto Rico’s government will not make a $420 million bond payment due Monday, after a failure to negotiate a legal or political solution to the U.S. territory’s public debt crisis.

Garcia said Sunday that he had issued an executive order suspending payments on debt owed by the island’s Government Development Bank, the largest component of $470 million in bond payments due Monday.  more here

20 Comments on Governor: Puerto Rico Won’t Make $420 Million Debt Payment

  1. So will go the United States with a $19 trillion Dollar Debt.
    For FY 2016 our “interest payments” alone were $191,777,356,653.10

    As the 20th century United States philosopher, George Santayana, is often quoted: “Those who cannot remember the past are condemned to repeat it!!”

    ……It happened to Argentina and it’s happening to us. Too big to fail???? Just wait.

    https://www.youtube.com/watch?v=33i_BAhuiE0

  2. The House has been working on a bill that would cut the debt in half leaving the bond holders who extended money to the incompetent and corrupt Puerto Rican government.

    They want Uncle Sam to pay them off completely and have been working to block the effort.

    They’ve been running some pretty despicable ads making it seem that poor Puerto Rican retirees are going to suffer, when they were the ones that enabled their government to misappropriate funds.

  3. You can bet your Aunt Minnie’s virtue that the American taxpayers are gonna take it up the ass on this one.

    The socialists will weep that “It’s ONLY a couple of bucks apiece!” and it will SAVE the fuckin rat-people from their own prodigality.

    “A $Billion here, a $Billion there – pretty soon you’re talking about REAL money!”

    izlamo delenda est …

  4. So are they going to pay nothing? Can’t they make any effort? Pay maybe $250 – 300M of it? Extend the rest of the debt. Go on an austerity drive so they are going deeper into debt. What the hell? Don’t leftists follow any rules, ever?

  5. Gov. Padilla¹ is looking at Illinois, Michigan, New Jersey, etc. and is wondering just how the fsck those governors got away with it while he gets his nuts suck in a vise.

    1. Padilla, eh? Any relation to the Chicago dirty bomb terrorist?

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