…. and nothing has changed since it started!!
“Public-Private Partnerships for the Plunder of Puerto Rico” ….
On June 29, Gov. Alejandro Garcia Padilla declared that Puerto Rico’s $72 billion debt was not payable, and appointed a “Puerto Rico Working Group” to develop a remedial fiscal plan. (footnote #1)
On September 8, the governor unveiled this plan with a televised speech, and demanded that “creditors come to the table and share the burdens of the sacrifices.” (footnote #2)
Unfortunately the actual document – the Working Group’s Fiscal and Economic Growth Plan (FEGP) – is low on shared sacrifice, high on third-party profit, and geared toward a sell-off of the island’s entire infrastructure. (footnote #3)
A slew of austerity measures are built into the plan. The FEGP will pay workers less than the minimum wage, limit collective bargaining, cut retirement benefits, raise college tuition, hire less teachers, reduce university funding, and shut down more elementary schools. (footnote #4)
The FEGP will also establish a five-person Financial Control…
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