This “public debt” has many, many causes & reasons. It’s not a new thing ….. Got in motion many years ago; many had a hand in it!!
With Puerto Rico on the brink of a fiscal collapse, Al Jazeera TV devoted an entire show to the causes and consequences of this crisis.
INSIDE STORY reached out to Nelson Denis and Angelo Falcón, to present the case for Puerto Rico. Here is the video of that show:
As founder and president of the National Institute for Latino Policy, Falcón provided a historical context for the “public debt” of Puerto Rico. Denis focused on the Jones Act of 1920, and its 96-year impact on the island’s economy. Cate Long, a partner in Puerto Rico Clearinghouse, presented the bondholders’ point of view.
The interview was conducted by veteran journalist Ray Suarez from Washington, D.C.
The government of Puerto Rico predicts that it may run out of funds (ie, go bankrupt) by June 2016. The US congress is preparing a “Financial Control Board” to manage the entire Puerto Rican…
View original post 18 more words