My View: Debt Side Story: Corruption and a Big Labor Agenda Define Obama’s Response to Puerto Rican Debt Crisis

This article originally appeared in Deseret News. Click here to read the full article.

By Jared Whitley

Puerto Rico My heart’s devotion Let it sink back in the ocean Always the hurricanes blowing Always the population growing

And the money owing…

So begins Puerto Rican darling Anita in West Side Story’s signature song, “America.” Little did she know how prophetic her words would become.

The not-so Rich Port has accumulated debt of $73 billion — a crushing 70 percent of its annual GDP — much of it owed to bondholders who, curiously, want their money back.

 

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