NYT Editorial: Puerto Rico Needs Debt Relief


“Puerto Rico’s governor has bluntly declared that the commonwealth’s $72 billion debt is unpayable.” …. this is a very difficult position for the “common folk” Puerto Ricans who remain in the Island … come “master”, now is the time to help!!

Repeating Islands

02thurs1-blog427

An editorial from The New York Times:

Puerto Rico’s governor has bluntly declared that the commonwealth’s $72 billion debt is unpayable. The issue now is how to come up with a credible plan to put the island’s finances and economy on sound footing.

A new report commissioned by Gov. Alejandro García Padilla makes clear that Puerto Rico is not generating enough revenue to provide public services and repay its debts. And even big spending cuts and tax increases will not fix that fundamental problem, according to the report issued by three former International Monetary Fund and World Bank officials.

Mr. García Padilla says he is prepared to make sacrifices, including cutting more spending; since 2009,government employment on the island has fallen by about 70,000, to 230,000. But he wants the commonwealth’s lenders, which include mutual funds, hedge funds and other investors, to reduce the principal owed on…

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About Dr. Rex

I'm originally from Puerto Rico. I was born in Santurce and raised in Rio Piedras. Have lived in Florida since 1999. I have a doctorate degree in Medicine; completed in 1976. My Internal Medicine specialty was completed in 1979. Worked for Puerto Rico's health system until 1985. At this time, I'm happily retired after working for the federal government for almost 28yrs. I want to offer any knowledge that I have to anyone "out there" who is interested. My views are liberal in almost every sense. My knowledge is "eclectic" - a bit of everything. Music and reading are my passion. Blogging has also become a very interesting endeavor. Metaphysical topics attract me. I'm interested in news reporting human issues like injustice, discrimination and abuse - the "wrongly" affected. My intention is to bring this knowledge to an understandable level and to help anyone in need. I'm open to questions and will answer them to the best of my ability. Currently working on an enterprise whose main mission will be to bring peoples of all walks of life together. To be one .... since we ALL are ONE!! The future looks bright and promising!!!

2 thoughts on “NYT Editorial: Puerto Rico Needs Debt Relief

  1. My heart and thoughts go out to the fine people of Puerto Rico my friend. Sorry it took so long to read your post, I have been waay behind on my emails. Haven’t written anything either, that is next.

    Liked by 1 person

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