GOP to Puerto Rico's nearly bankrupt government: 'Drop dead'

[TexasTowelie]

Republican leaders in Congress told Puerto Rico’s nearly bankrupt government to drop dead on Tuesday.

Despite feverish efforts by the White House and congressional Democrats to insert a provision into the federal spending bill that would allow the Caribbean island territory to tackle its massive $72 billion debt through bankruptcy restructuring, top Republicans in the Senate scuttled it at the last minute.

Their refusal now leaves Puerto Rico just two weeks away from the biggest municipal bond default in American history.

“The hedge funds won, they got their way in Congress,” said Richard Ravitch, New York’s former lieutenant governor.

Read more: http://www.nydailynews.com/news/politics/gop-puerto-rico-drop-dead-article-1.2467183

[LittleBlue]

1. Ummmmm why should we be on the hook for Puerto Rico's debt?

Saw Orrin Hatch of all people proposing $3bn in debt relief for Puerto Rico. We don't even save our own states and cities from debt trouble. We have absolutely zero obligation to Puerto Rico. They can solve their own problems.

[angrychair]

2. You do realize that Puerto Rico is part of the U.S.?

Puerto Rico is a US territory and the people living there are U.S. citizens by birth.
Their problems are our problems.

[LittleBlue]

4. Yes, of course I do. Surely everyone does? But it's not even a state.

And we don't even have an obligation to bail out states or cities, so I'm completely opposed to bailing out Puerto Rico.

We have no obligation here. They need to solve this themselves.

[geomon666]

10. That's great.

Let's just leave 3.5 million Americans to fucking rot, cause, you know, fuck em. They're just brown people anyway, they don't really matter.

[LittleBlue]

12. While kids in Flint are poisoned with lead, and we have no money for that

You want to bail out Puerto Rico? We didn't even bail out Detroit. California was forced to issue IOUs. Do you have any idea how damaging that would be for us politically? $3bn to Puerto Rico's bond holders and no money for Americans... just wow.

I'm starting to think some on the left want to lose this election. Sanity has truly fled.

[geomon666]

13. First of all, it wasn't a bail out.

They are trying to find a way that PR can pay what they owe without forcing them into default, but Republicans and you are saying fuck all of that. Leaving PR to default would be...I can't even describe it.

Maybe I need to take a little break from DU because holy fuck man, let's just abandon an entire province of ours to the worst levels of poverty and destitution because we need to win a fucking election. Because Puerto Rico, whose people can't even fucking vote in our elections, that's the issue that's going to decide this election.

Jesus Christ, man.

[LittleBlue]

14. Yeah I'm talking about the Hatch proposal. Let them default and let the bondholders take the loss

Some state assets might have to be sold, but why let this get worse? Their interest rates will go up, which will force them to face up to their debt problems. If Greece had done that years ago, they wouldn't be in their current predicament.

You're feeding an addict more drugs. Puerto Rico needs to control their spending.

[AngryAmish]

3. If the US won't help Puerto Rico then she should not be part of the US.

[KamaAina]

5. The pro-statehood party down there is affiliated with the Repulsicans

You'd think that would carry some weight with them.

[saturnsring]

6. the cons think they all vote dem that's why they wont vote to help

[KamaAina]

8. Only the ones up here do

for obvious reasons. On the island, the pro-commonwealth (Dem) and pro-statehood (repuke) parties are pretty evenly split, with the pro-independence faction being a tiny minority.

[saturnsring]

11. thankyou for that. i didnt know that, it's interesting

[saturnsring]

6. the cons think they all vote dem that's why they wont vote to help

Last edited Wed Dec 16, 2015, 10:52 PM - Edit history (2)

I don't know why this reposted

[Octafish]

9. Wish someone had asked the candidates about this.

Might give a clear picture about who really gives two cents about Puerto Rico.

As it stands, I don't see much in the way of leadership from our side, either.