I have lived all my life in Puerto Rico, and as you can imagine, this issue is quite controversial.
We owe money to the creditors... and what you do with a debt is to you pay it off.
Yet the amount is so staggering, that I wonder if it's actually possible.
As is typical, decisions by politicians placed us in this situation. Decade after decade, 4-year term after 4-year term, the government has spent money it does not have. Be one political party or the other, it is the same thing.
There was a big manifestation this past Monday, where various Unions, groups, and students did a "Paro Nacional".
Truthfully, I don't think they accomplished anything, other than various idiots vandalizing property they don't own.
We are in deep shit, and it's going to get worse.
Lots of people are leaving the island, which just compounds the problem (less revenue).
I don't leave because: it's where I was born, where I have lived my entire life, and it is, honestly, paradise.
Obligatory John Oliver's Puerto Rico segment: https://www.youtube.com/watch?v=Tt-mpuR_QHQ
What will happen?
I have no idea.
Good to see this in HN.
As is typical, decisions by politicians placed us in this situation. Decade after decade, 4-year term after 4-year term, the government has spent money it does not have. Be one political party or the other, it is the same thing.
There was a big manifestation this past Monday, where various Unions, groups, and students did a "Paro Nacional". Truthfully, I don't think they accomplished anything, other than various idiots vandalizing property they don't own. We are in deep shit, and it's going to get worse.
Lots of people are leaving the island, which just compounds the problem (less revenue).
I don't leave because: it's where I was born, where I have lived my entire life, and it is, honestly, paradise.
Obligatory John Oliver's Puerto Rico segment: https://www.youtube.com/watch?v=Tt-mpuR_QHQ
What will happen? I have no idea. Good to see this in HN.