Fitch Rating on USV...
 
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Fitch Rating on USVI - not good

 
daveb722
(@daveb722)
Trusted Member
singlefin
(@singlefin)
Trusted Member

Borrow, borrow, borrow.
Eventually means tax, tax, tax.
This can not be sustained.

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Posted : November 14, 2016 1:29 am
vicanuck
(@vicanuck)
Expert

Is it too late to get on with the federal oversight board running Puerto Rico?

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Posted : November 14, 2016 4:07 pm
daveb722
(@daveb722)
Trusted Member

Is it too late to get on with the federal oversight board running Puerto Rico?

I'm going to tweet trump, maybe he could help us out.

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Topic starter Posted : November 14, 2016 4:15 pm
Gator's Mom
(@gators_mom)
Trusted Member

From Fitch:

https://www.fitchratings.com/site/pr/1014618

In August 2016, Fitch transitioned the analysis of the territory's dedicated tax bonds to criteria applicable to local governments rather than state governments, following the passage of the Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA.) While PROMESA does not currently apply to the USVI, Fitch believes an avenue has been created for the federal government to adopt future legislation allowing for a restructuring of USVI-backed debt even though the USVI is not eligible to file for bankruptcy under current federal law. As a result, Fitch now treats the USVI as analogous to a local government in applying dedicated tax bond criteria.

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Posted : November 14, 2016 4:23 pm
singlefin
(@singlefin)
Trusted Member

I hate political discussions, but as unhappy as so many people are nationwide, a change has got to take place to make the entire nation more fiscally responsible.

More borrowing to pay for day-to-day operations of an over bloated government is insane when we don't have the private sector tax base to support it.

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Posted : November 14, 2016 5:24 pm
daveb722
(@daveb722)
Trusted Member

I hate political discussions, but as unhappy as so many people are nationwide, a change has got to take place to make the entire nation more fiscally responsible.

More borrowing to pay for day-to-day operations of an over bloated government is insane when we don't have the private sector tax base to support it.

(tu)

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Topic starter Posted : November 14, 2016 8:06 pm
daveb722
(@daveb722)
Trusted Member

Also, notice how they passed this spending bill before this bad news and election came about? When everyone's taxes double, then maybe you'll see some change.

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Topic starter Posted : November 14, 2016 8:09 pm
Gator's Mom
(@gators_mom)
Trusted Member

Didn't the VI government have to issue these bonds to make payroll? That would have dictated the timing.

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Posted : November 14, 2016 8:42 pm
LiquidFluoride
(@LiquidFluoride)
Trusted Member

Also, notice how they passed this spending bill before this bad news and election came about? When everyone's taxes double, then maybe you'll see some change.

Just like all those crazy bills are announced on a friday before a 3 day weekend in the congress?

politics down here are cute.

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Posted : November 15, 2016 12:07 am
Alana33
(@alana33)
Expert

trump plans on reducing taxes!
For the wealthy and increasing them for others.

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Posted : November 15, 2016 1:53 am
AandA2VI
(@AandA2VI)
Trusted Member

He would realize real quick we're a loosing investment and cut us loose. Yikes.

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Posted : November 15, 2016 4:03 am
CruzanIron
(@cruzaniron)
Trusted Member

.

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Posted : November 15, 2016 11:01 am
stxsailor
(@stxsailor)
Trusted Member

At least the money is being used for pressing needs like Limos for Dictator Mapp!

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Posted : November 15, 2016 11:58 am
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