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cal04

(41,505 posts)
Sat Jun 11, 2016, 08:05 AM Jun 2016

Weekly Address: Addressing Puerto Rico’s Economic Crisis

Source: White House

In this week's address, President Obama discussed the crippling economic crisis harming 3.5 million Americans in Puerto Rico. Today, the island is spending over a third of its tax revenue on debt payments – and on July 1, Puerto Rico is facing another $2 billion in debt payments that it cannot make.

The President said the only way for Puerto Rico to overcome this crisis is by restructuring its debt and finding a sustainable path toward growth and opportunity for its people. But this requires help from Congress in order to give Puerto Rico the tools it needs to restructure its debt. The President commended the House of Representatives, which overwhelmingly passed a bipartisan bill to address the crisis, and called on the Senate to quickly follow suit.




Read more: https://www.whitehouse.gov/the-press-office/2016/06/11/weekly-address-addressing-puerto-ricos-economic-crisis



Transcript
https://www.whitehouse.gov/the-press-office/2016/06/11/weekly-address-addressing-puerto-ricos-economic-crisis
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Weekly Address: Addressing Puerto Rico’s Economic Crisis (Original Post) cal04 Jun 2016 OP
K&R BumRushDaShow Jun 2016 #1
Time for Congress to fix the mess they help create in Puerto Rico mountain grammy Jun 2016 #2
wishing the best for Puerto Rico... dhill926 Jun 2016 #3

BumRushDaShow

(127,301 posts)
1. K&R
Sat Jun 11, 2016, 08:25 AM
Jun 2016

Hope that P.R. can get back on track. And particularly this year when they are forecasting an uptick of hurricanes.

Thanks for the weekly posting!

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