P.R. disaster

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This is an opinion item.

Author(s) The Providence Journal editorial board
Source The Providence Journal
Date January 4, 2016
URL http://www.providencejournal.com/article/20160104/OPINION/160109784
Quotes-start.png As the former U.S. Treasury economist Ike Brannon has pointed out, one way or another, Puerto Rico is going to have its debt burden lifted, either through a federal bailout or bankruptcy. While not ideal, allowing the island to simply go bankrupt would have the benefit of not leaving John Q. Taxpayer on the hook for Puerto Rico’s profligacy. Of course, if bondholders are not paid, Puerto Rico will have an especially hard time borrowing again and getting back on its feet. Quotes-end.png

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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.