Puerto Rico files f...
 

Puerto Rico files for bankruptcy  

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fdr
Posts: 1243
 fdr
(@fdr)
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Joined: 11 years ago

Watch closely, because the laws they created to address PR's bankruptcy will apply to all US territories. This is our future:

https://www.congress.gov/bill/114th-congress/house-bill/5278/

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JohnnyU
Posts: 465
(@JohnnyU)
Advanced Member
Joined: 5 years ago

Think that's a bad bet for PR.

I would expect that the current administration will use PR as a threat to states like IL & CA that they need to clean up their own messes.

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singlefin
Posts: 854
(@singlefin)
Trusted Member
Joined: 5 years ago

If Puerto Rico had voted for statehood years ago, would this situation have been so different?

I'm unaware of all the pros and cons of statehood here. Coming from the States, I always thought Statehood would be something any territory would jump at.

I can't help but to think of Hawaii, the last state brought into the union. Even though its had its issues, residents seem to have far greater faith in their local government. It's further removed from the US than we are, half its land mass is threatened by dormant and active volcanoes, and yet the level of both private and federal investment far exceeds anything in the USVI or Puerto Rico.

I'm sure there is a fear of some cultural change here, however when things like GERS are teetering on the edge, local hospitals are in a state of constant fiscal collapse, WAPA struggling everyday to keep electric and potable water flowing, and roads in constant disrepair, it's hard to imagine anyone alright with the territorial status quo.

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terry
Posts: 2552
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Expert
Joined: 14 years ago

PR is not a territory but a commonwealth. There is a slight difference.

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speee1dy
Posts: 8723
(@speee1dy)
Expert
Joined: 11 years ago

his point still stands though

PR is not a territory but a commonwealth. There is a slight difference.

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