Fitch Rating on USVI - not good

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

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

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.

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.

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.

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)

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.

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

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.

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

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

.

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