Congress must help Puerto Rico by restructuring its debt burden

This is an opinion item.

Author(s)	The Miami Herald editorial board
Source	The Miami Herald
Date	March 9, 2016
URL	http://www.miamiherald.com/opinion/editorials/article65097862.html
Quote	Some Republican lawmakers remain skeptical. They’ve raised an important point: Allowing Puerto Rico to enter into a financial restructuring might weaken investor confidence in general obligation bonds issued by the 50 states, raising their costs of borrowing in the future. To avoid this outcome, Congress should craft a restructuring under the Territorial Clause of the U.S. Constitution that is designed only for Puerto Rico — and only this time. Puerto Ricans won’t like it, but the deal must include a federal oversight board to ensure that Puerto Rico lives within its means and meets its reduced debt obligations.

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This item argues against the position United States should bail out Puerto Rico on the topic Puerto Rican government-debt crisis.

This item argues for the position Puerto Rico should be allowed to declare bankruptcy on the topic Puerto Rican government-debt crisis.