Puerto Rico is a Victim of Trump’s and Obama’s Bank Buddies–and Congress


Puerto Rico Oversight Board Warns Island Can’t Pay Vital Services

By Greg Williams

The Financial Oversight and Management Board of Puerto Rico warns “the Commonwealth soon will be unable to pay essential services, including pensions, education, healthcare and public safety,”‎ as soon as June. The warning came in a letter sent from the oversight board as a response to the Governor’s recent fiscal plan.

“Puerto Rico’s situation is getting worse,” noted Eric LeCompte, Executive Director of the religious development group Jubilee USA. LeCompte testified on Puerto Rico’s debt to the board and to Congress last year. “The island needs to see significant debt relief as soon as possible.”

The board calls for other extensive cost saving measures in its letter, including substantial furloughs of government employees and contract renegotiation.

“Puerto Rico cannot cut its way out of this crisis,” warned LeCompte. “The island needs substantial debt restructuring combined with Congress following through on health care and child tax benefit recommendations.”

In December a bipartisan Congressional task force recommended increasing medicare funding and extending 3 billion dollars in child tax benefits for people on the island.

Read the board’s letter

Read the governor’s fiscal plan

Read more about the fiscal plan

Advertisements

About eslkevin

I am a peace educator who has taken time to teach and work in countries such as the USA, Germany, Japan, Nicaragua, Mexico, the UAE, Kuwait, Oman over the past 4 decades.
This entry was posted in Uncategorized. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s