1stRambo
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Yo, dig deeper folks!!!
Obama Cronies Cashing in on Puerto Rican Debt Crisis
Brian McNicoll| Apr 15, 2016
It’s not just the chickens that have come home to roost in Puerto Rico. It’s the hacks as well.
The whole thing can be summed up in two words – Hack City.
There were the public-sector union hacks whose contracts drove the Commonwealth into what is now estimated at $72 billion in debt. There were the government officials who encouraged this profligacy with indulgent hiring.
There are the hacks in Washington who just want to send a big check and forget the whole thing, rather than insist on the reforms that put Puerto Rico in these straits in the first place.
There are the hacks in Congress and Puerto Rico’s government who pushed through crippling public spending and rules, such as a minimum wage more than twice that of any neighboring competitor, that ensured the public sector would suck all the energy out of the private.
Congress continues to whiff on legislation to address it and as talk builds of affording San Juan a bankruptcy-like restructuringscheme that would enable Illinois, California, New York and others to offload their debt on Washington – still more hacks have figured out how to make a buck off the island’s suffering.
Puerto Rico has shut down state agencies and reduced others to bare bones operations. It has defaulted on debt payments twice now, once in the last month. Secretary of the Treasury Jack Lew says the Commonwealth is “in the midst of an economic collapse.”
Brian McNicoll - Obama Cronies Cashing in on Puerto Rican Debt Crisis
"GTP"
Another Reason Why We Need A Republican In Office!!!
Obama Cronies Cashing in on Puerto Rican Debt Crisis
Brian McNicoll| Apr 15, 2016
It’s not just the chickens that have come home to roost in Puerto Rico. It’s the hacks as well.
The whole thing can be summed up in two words – Hack City.
There were the public-sector union hacks whose contracts drove the Commonwealth into what is now estimated at $72 billion in debt. There were the government officials who encouraged this profligacy with indulgent hiring.
There are the hacks in Washington who just want to send a big check and forget the whole thing, rather than insist on the reforms that put Puerto Rico in these straits in the first place.
There are the hacks in Congress and Puerto Rico’s government who pushed through crippling public spending and rules, such as a minimum wage more than twice that of any neighboring competitor, that ensured the public sector would suck all the energy out of the private.
Congress continues to whiff on legislation to address it and as talk builds of affording San Juan a bankruptcy-like restructuringscheme that would enable Illinois, California, New York and others to offload their debt on Washington – still more hacks have figured out how to make a buck off the island’s suffering.
Puerto Rico has shut down state agencies and reduced others to bare bones operations. It has defaulted on debt payments twice now, once in the last month. Secretary of the Treasury Jack Lew says the Commonwealth is “in the midst of an economic collapse.”
Brian McNicoll - Obama Cronies Cashing in on Puerto Rican Debt Crisis
"GTP"
Another Reason Why We Need A Republican In Office!!!
