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I watched Geraldo Rivera in an interview. He's been in PR for many days now. I absolutely would have no problem helping PR get on their feet. Geraldo said PR needs a Trump plan, there are corrupt politicians in PR that need to go. If we could wipe out their debt, help them learn how to balance a budget (which I know would be painful for some), root out the corruption, help them get their infrastructure built up, we can help them restore their land which they want to do. It's not a Democrat or a Republican thing. If we can, to the extent we can, we should help them. If Trump can come up with a good plan, I say go for it.
US should teach others to balance their budgets And then hand them money which we don't even have which only throws our own budget off balance
Republicans don't want to give Puerto Rico statehood and they are concerned that they will all move to the U.S. They may think wiping the debt is a political calculation. I don't see how the island recovers in a meaningful way - it may become a vacation spot for the rich. Odds are a large portion relocate to the U.S. which was already happening before the hurricane.
I simple google search will show that you are clueless.
I simple google search will show that you are clueless.
Please provide links to demonstrate. I can provide a link to a right wing discussion regarding the matter and the comments showing they would rather pay for Puerto Rico if it will prevent those Puerto Ricans from moving to the U.S. or worse - giving them statehood include two Democratic senators.
Worst Proposal Ever! Trump Wants To “Wipe Out” Puerto Rico’s Debt
As a Democrat, there is no downside for us - well beyond the impact to our 401Ks and stocks. If Trump forgives the debt, he angers his base. If he doesn't and there is no hope in Puerto Rico, they just move to the U.S. Several comments mention that the only way Alaska and Hawaii were admitted was because it was even - Hawaii Democratic, Alaska Republican. Since Puerto Rico leans Democratic, they would only be interested if there was the potential for a right leaning addition to nullify the impact.
Trump took it back. No bail out. This was just another one of his comments which he blurted out without giving is a second of thought.
Yep.
Walking it back.
"Mulvaney was cleaning up after a remarkable Trump interview that sent Wall Street bond traders and holders of Puerto Rico’s debt scrambling overnight Tuesday. The island’s general obligation bonds dropped from 56 cents on the dollar to just 36 cents early on Wednesday as investors tried to figure out exactly what the White House might actually do."
Bush began the auto company bailout process by using using $17.6 billion in TARP money in December 2008 to keep General Motors and Chrysler alive until a more comprehensive solution could be worked out. After Obama took office, a plan was worked out where the companies were forced to declare bankruptcy to get government investment in them, downsize, and the unions had to give some concessions on raises and stiff new hires who were paid at a new lower starting salary. In the end, tax payers lost about $9 billion on the government's investment. No debt was "wiped out".
To "wipe out" PR's debt, they'd have to use Trump's go to move, bankruptcy, which they did resort to a form of back in May. Even there, it is a complicated process as to what happens to their debt (which cannot not magically be canceled) which is held by pensions, private and institutional investors and who gets paid first. So no, Trump can't just wipe out the PR bond debt like Obama did with the auto companies, because Bush AND Obama did not "wipe out" that debt. Also, on the campaign trail, Trump said he would not approve of any bailout of PR.
This is similar to the casual comments that Trump makes where he shows he has no clue about the subject he's commenting on and none of that "great business acumen" he claims to posses. Then the White House has to come in and back track on his comments later by saying "don't take him literally" or "word for word". Which means don't listen to him, because he really didn't say that many different words and if you have to discount any of them, it's like he never even spoke.
Please provide links to demonstrate. I can provide a link to a right wing discussion regarding the matter and the comments showing they would rather pay for Puerto Rico if it will prevent those Puerto Ricans from moving to the U.S. or worse - giving them statehood include two Democratic senators.
Worst Proposal Ever! Trump Wants To “Wipe Out” Puerto Rico’s Debt
As a Democrat, there is no downside for us - well beyond the impact to our 401Ks and stocks. If Trump forgives the debt, he angers his base. If he doesn't and there is no hope in Puerto Rico, they just move to the U.S. Several comments mention that the only way Alaska and Hawaii were admitted was because it was even - Hawaii Democratic, Alaska Republican. Since Puerto Rico leans Democratic, they would only be interested if there was the potential for a right leaning addition to nullify the impact.
If we bail out PR, do we also bail out other cities like Detroit or States that have massive debt?
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