5 ms·
"Preferably, to a swing state." Yep, move people who voted for the local governemnt that left them unprepared for a disaster like this and make them vote for t
by jedmeyers 9y ago
"Preferably, to a swing state."
Yep, move people who voted for the local governemnt that left them unprepared for a disaster like this and make them vote for the same government in a swing state.
- ceejayoz 9y agoThe PR government may indeed deserve some blame (maybe even a lot!), but IMO it's absurd to think that their disenfranchised status on a national level doesn't play a role. Their debt is $72 billion. We authorized $700 billion for TARP to bail out failing banks, and $17.4 billion to bail out the Big Three automakers.
- rayiner 9y agoAs to the debt (not the natural disaster): Let's be clear, Puerto Rico is a wealthy place. It's richer than Spain. It's $72 billion debt is from overly generous public benefits. It's basically Illinois or Detroit. The Federal Government isn't bailing those places out either, because unlike TARP (which we recovered with a slight profit), we'd never get that money back.
- ceejayoz 9y agoWhat are these "overly generous" public benefits? They get substantially lower Medicare and Medicaid funding per capita, can't join the Federal healthcare exchange, and their citizens aren't eligible for ACA subsidies. https://www.nytimes.com/2015/08/03/us/health-providers-brace-for-more-cuts-to-medicare-in-puerto-rico.html https://www.nytimes.com/2015/08/03/us/health-providers-brace... Puerto Rico's per-capita GDP is also lower than any US state.
- rayiner 9y ago> What are these "overly generous" public benefits? Puerto Rico's debt arises from overly generous benefits to public employees and retirees and underfunding: https://www.reuters.com/article/us-puertorico-debt-budget/puerto-rico-budget-to-protect-pension-payments-governor-idUSKBN18R3C8 https://www.reuters.com/article/us-puertorico-debt-budget/pu.... As in Illinois, Detroit, etc., this is purely a local issue, the result of local expenditures not matching local revenues. It has nothing to do with the federal government. As for federal support, on the whole, Puerto Rico receives more in federal support than it pays in federal taxes: https://www.finance.senate.gov/imo/media/doc/Arthur%20MacEwan%20and%20J.%20Tomas%20Hexner%20(Submission%204).pdf https://www.finance.senate.gov/imo/media/doc/Arthur%20MacEwa.... It's sandwiched right between Louisiana and Vermont in that regard. > Puerto Rico's per-capita GDP is also lower than any US state. Yes, but on a purchasing power adjusted basis, it's higher than South Korea, New Zealand, Italy, Spain, and other countries that manage to have solvent public services without relying on outside support.
- toomuchtodo 9y agoIt seems like the options available are: 1. Default on pension obligations, put those retirees on social security and eat the cost (transfer from general fund to SSA) if they haven't contributed in via FICA 2. Bail out their underwater pensions 3. Default on pension obligations, allow retirees to die in poverty I put them in my preferred order of operations.
- rayiner 9y agoI agree the first one is the best option.
- octonion 9y agoThis is a disaster that nearly wiped away the island and left them entirely without power? How do you "prepare" for that, you racist troll?