How is the debt default affecting services and resources in Puerto Rico? Are hospitals, electricity and other essentials reliable at the moment?
Thomas, Congress has to authorize a restructure of Debts in Bankruptcy court as with any other state. The US is still a first world country and PR is part of it.
Adds are running in my area asking people to call congress asking that we not bail out Puerto-Rico.
They have run those ads here in Ohio also. It's all BS. Don't even understand why they are running them. No one is talking about bailing out PR other than the ads you are referring to. PR is not, neither is congress. Not a penny of tax dollars are being considered. It's all about allowing PR to reorganize under Chapter 9. The only folks that could care would be some of the investors that don't want their loans or bonds restructured. The folks that would be hurt would be the Puerto Ricans that purchased bonds. They would have to wait longer to get paid back.
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