2016 Postmortem

imagine2015

(2,054 posts) Mon May 16, 2016, 11:11 PM May 2016

Bernie Sanders Campaigning In Puerto Rico Today! Video of Town Hall Speech In San Juan, Puerto Rico

CNN
America’s Choice 2016
Bernie Sanders: Puerto Rico could leave the U.S.
by Heather Long
May 16, 2016

Bernie Sanders promised Puerto Ricans "an ally in the oval office" if he becomes president. He would even support Puerto Rico if it wants to become an independent nation.

"The people of the United States cannot continue a colonial-like relationship with the people of Puerto Rico," Sanders said in a speech Monday in the island's capital of San Juan. He was campaigning ahead of the Democratic primary there on June 5.

Sanders says he would give the island's 3.5 million residents three options: becoming the 51st U.S. state, becoming an independent country or enhancing its rights as a U.S. territory.

Puerto Rico in crisis

At the moment, Puerto Rico has a lot of woes. The island is languishing in a deep economic recession. People are literally fleeing Puerto Rico by buying one-way tickets to the mainland U.S. The island's government is deep in debt. It owes $70 billion to creditors and doesn't have the money to pay.

Sanders blasted Wall Street banks for trying to squeeze ever last penny out of the island, even if it means kids can't get the health care or education they need.

"Children in Puerto Rico will not go hungry, will not lose their education, to make billionaires even wealthier," Sanders said.

Sanders agrees with the Obama administration that Puerto Rico should be granted bankruptcy rights. Known as Chapter 9, it would allow municipalities in Puerto Rico to file for bankruptcy, akin to what Detroit, Michigan did in 2013.

But Sanders says that's not enough. He also thinks the Federal Reserve should buy some of the debt, much as the Fed bought assets from big banks during the financial crisis.

http://money.cnn.com/2016/05/16/investing/bernie-sanders-puerto-rico/index.html