Only Congress Can Rescue Puerto Rico

Only Congress can help Puerto Rico … Congress’ track record isn’t anything to brag about. Sorry to say …. can’t hold my breath on that! The “proposed bill” doesn’t do anything to help Puerto Rico & it’s people …. rather helps the peeps in Wall Street! Sad … real sad!!

Repeating Islands

Screen Shot 2016-04-24 at 11.49.13 PM.pngAn editorial from The New York Times.

Puerto Rico is beset by problems. Its government is straining under a mountain of debt, the economy is deteriorating and the Zika virus is spreading. Only Congress has the power to help, but it is not moving fast enough.

It has been clear for months that the federal government needs to give Puerto Rico a way to restructure its $72 billion debt and impose a financial control board to oversee decisions by local lawmakers. But the effort to pass legislation is facing stiff opposition from some House Republicans, who have bought into false arguments made by hedge funds and other investors that this would amount to a federal bailout or that it could open the door to bankruptcy filings by state governments.

Puerto Rico, which has already defaulted on some of its debt, does not have the money to make big bond…

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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!!!

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