OMG! Unprecedented,unheard of! My heart breaks! There’s no recovery for my Island … ransacking/stealing/greed! 💔
A bombshell report from the government of Puerto Rico has revealed that, by April 2017, the island will be worse than bankrupt – it will have a deficit of $68 billion, a “debt” of $72 billion, and a complete inability to meet its pension payments.
This means that 180,000 retired teachers, and every other government retiree, might no longer receive any pension payments…
The 300-page report was submitted to the Financial Control Board (FCB) and was immediately reported in the island’s press.
The report also states that all retiree medical plans may be suspended, and for the same reason…the absolute lack of funds.
Governor-elect Ricky Roselló announced that he will “protect the public pension system” by installing “public private partnerships” (P3s) throughout his government, that will spin off some immediate funds.
This “P3” expedient is precisely the one which the Financial Control Board has been pushing
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