How years of DEMOCRAT misrule failed the people of Puerto Rico:
The island has more than $72 billion of debt — nearly 100 percent of its total annual economic output — and an estimated $30 billion shortfall in its state pension fund. Two government agencies have already defaulted on debts, and a $2 billion payment was due on July 1, 2016. (It was defaulted).
Unemployment is over 12 percent and would be twice as high if so many Puerto Ricans hadn't taken advantage of their U.S. citizenship and moved to the mainland to find work.
The poverty rate is 45 percent, compared with 15 percent stateside.
Half of P.R. residents are on Medicaid.
"We have no cash left," Gov. Alejandro Padilla said in a December appeal for help to the U.S. Senate. "This is a distress call from 3.5 million Americans who have been lost at sea."
It's not just Puerto Ricans at risk of suffering: Two-thirds of U.S. pension and retirement funds hold Puerto Rico government and municipal bonds, and could lose billions of dollars if the island can't service its debts.
http://theweek.com/articles/614667/puerto-rico-crisis-explained
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