Panampost– Puerto Rico’s government is broke. Its economy is flatlining. Unemployment at 12.4 percent is more than double the US average. The first non-payment on of one of its state-owned entities may occur this week. The government has called its massive US$72 billion public debt “unpayable.”
The primary causes of this disaster are not its high energy and shipping costs. These same costs have not stopped Hawaii’s robust economy with just 4.2 percent unemployment. Separately, Puerto Rico’s territorial status debate is more political theater than anything else.
As part of the United States, Puerto Rico’s inability to negotiate separate commercial treaties is immaterial. It has paltry home-grown exports. The US mainland is practically its only trading partner, but a good party that allows Puerto Rico to freely exchange goods, services, and people as though it were a state. This is precisely the trade agreement that most countries seek, but do not get. MORE
Reopen the US Navy bombing range. The income from protesters alone would float the Island in cash, and keep the biggest environmental wierdos busy off shore. Besides, Navy and Marine pilots all relish honing their skills in live-fire target practice.
Win-Win-Win…
With unemployment at 12.4 percent you could probably make a pretty good argument that they’re better off than we are!
You got that right. No way in h*ll is our unemployment rate as low as “they” say. I’d at least triple whatever they say it is.
Social conservatives won’t like it, but the only way PR will become solvent is to become what Cuba was back in the 50’s except more openly with casinos, brothels. the works. It would have to all be legal to make sure it could be adequately monitored and taxed.
They have a great climate but the only things they can export are sugar (we eat too much already), and Puerto Ricans.
I supported their economy in my college days. Don’t hey make 151 there?
Is it like Guam? Can we tip it over?
Look at their “education” [sic] system.
To call it a disaster would be an understatement.
And, yes, their numbers are a lie.
It’s all about their “latino” (Central/South American) attitude towards governance…imagine decade after decade of Obama-like corruption…everywhere. Par for the course there.
“It’s time for us to call on Washington, in one voice, for concerted action,” the governor said.
And, there’s the problem right there.
Live and breathe the corruption, but look elsewhere for a handout when things collapse.
FORGET IT.
Cut em loose.
125 years of occupation is enough.
Give it back to Spain.
If Spain don’t want it, give it to Cuba.
If Cuba don’t want it, then “buh bye.”
My upstate NY (Amsterdam) home’s nickname is “Amsterico”. Tell ya something? Not much in the way of jobs, but the welfare is great!
” The government has called its massive US$72 billion public debt “unpayable.” ”
$72B was a record ONE MONTH “trade deficit” AKA international wealth redistribution during the W admin… who knows what kind of third world dogshit products were dumped on America’s shores?
Let em file bankruptcy and then STRIP EVERYONE getting a govt check from ALL FUTURE govt checks, NONE for the children of said nor grandchildren of said ‘takers’
Then implement an actual free market for those who want and know how to work- forget the bread and water lines, replace them with SWILL.
REMOVE ALL COMMUNITY ORGANIZERS BY ANY MEANS NECESSARY !