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Absolutely seeing our future. Our leaders have done NOTHING meaningful to bring our budget under control. It's all about votes and staying in power. The bankruptcy of our nation means nothing to them. And once the nation does go bankrupt it gives the rulers a reason to seize private retirement and savings funds "for the good of the nation" and to re-write that pesky constitution that keeps getting in the way.
Might be easier if they officially became a US state.
This is basically what Congressman Issa said in April, become a state and your debt will go away as part of the transition to statehood. Unfortunately the current approach is to obtain Chapter 9 protections under the existing territorial status ... something that I don't think will happen. In the 1990s when Washington DC was bankrupt with a fiscal situation even worse than Puerto Rico's current situation they had to go under a Federal fiscal control board until they could balance 5 consecutive budgets.
Puerto Rico will get through this the same as NYC, Detroit, and Washington DC have in the past. It won't be easy and there will need to be significant cuts to the public sector but it's doable. Alot of government services will have to be privatized and the UPR will need to be downsized (they have like 10 campuses on a relatively small island).
I have heard that PR has some beautiful beaches - but I have not been. Why is it that PR does not set up a series of "hot" resorts for mainland American - AND ACTUALLY advertise them (I can't recall any ads for beautiful PR beaches, women, gambling, water, beaches, sailing, or ANYTHING).
American flock to Mexico, Bermuda, Jamaica and similar places. Why not make it easy and more desirable to spend our money in our own country?
If crime is a problem, set up tourism police that concentrate on protecting people actually bringing money into the island.
About 40% of the population subsists on payouts from federal government. I've read where Puerto Ricans who don't speak English can qualify for SSI. These are not industrious people that can pay off a $20K per capita debt.
American flock to Mexico, Bermuda, Jamaica and similar places. Why not make it easy and more desirable to spend our money in our own country?
This is something I have been advocating for some time now ... it's a no brainer as far as I am concerned. Why go to Jamaica when you can go to Puerto Rico? No passport, no Customs, same currency, same nation. And your helping OUR economy at the same time. In Puerto Rico you can actually leave the hotel grounds without fear of being mugged and murdered ... unlike Mexico or the Dominican Republic.
"Iff'n I had a son, he would be named Rico. Rico Suave. No, wait, that's not right. He would be named Rico. Puerto Rico."
--- Barack "Puerto Rico Was One Of The 57 States I Visited" Obama
Puerto Rico might actually give Detroit a run for its money in terms of sheer mismanagement. Until we stop rewarding politicians for the financial ineptitude, we probably should consider Puerto Rico as looking at our future.
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