[LS]

In other words, all is fine because the US can pay Puerto Rico's debt. What happens when the US cannot pay its own debt?

This is less the rhetorical question than some might think. San Bernadino and Stockton have already declared bankruptcy, yet as far as I know they continue to operate. In short, I'm still waiting for the actual consequences of "going broke" to be manifested . . . anywhere in the government sector.

[MUDDOG]

with the government's debt restructuring—which won't be easy, since, as a U.S. territory and not a city, it can't go through Chapter 9 bankruptcy—that Puerto Ricans'

I take that to mean that Puerto Rico's territorial gov't debt is not backed up the federal gov't.

That's the good news!

[who_would_fardels_bear]

Also, in other words, the "good news" is that Puerto Rico's profligacy will be paid for by taxpayers rather than financial speculators.

Whew! And I was so afraid that the speculators would lose in both Greece AND Puerto Rico.

[Unrepentant VN Vet]

Time was that people would buy a newspaper to get the real, truthful, accurate information on subjects as well as clear, insightful and objective opinions.

That is, to put it as gently as possible, pathologically delusional.

Since we can agree that the best use of the Washington Post is as an Absolute Negative Barometer (i.e. anything they say is the direct opposite of fact), this particular piece indicates:

1) Puerto Rico is not only in the same trouble as Greece, the situation is even more grave (especially for WaPo) because default/failure in PR reflects on not only the US and not “merely the Eurozone”, but most particularly on liberal policies instituted during the terms of FDR right up to the current administration.

2) The dollar, like the US economy, is now a fiction supported only by thieves and liars in government and their accomplices including WaPo and the writer of this piece. Having a few cities here and there go belly-up because of lib policies and associated debt loads can be glossed over for a time at least, but the jolt associated with a Puerto Rican default could not be concealed and could very well bring down the entire house of cards.

3) Finally, and IMHO the worst things about the situation (at least for WaPo), they can’t hide this story anymore, haven’t yet constructed a plausible Conservative villain to blame and have actually had to publish this sorry pack of denial and crass BS.

Our three-year-old grandson would be ashamed to let stuff like this out of his mouth.

[Mastador1]

In other words, all is fine because the US can pay Puerto Rico's debt. What happens when the US cannot pay its own debt?

We nationalize everything and tell China and the others to go to hell? Wait I know, we already have the answer, we print more money, reduce our defence and open our borders to third worlders giving them more for free than our hard working citizens struggle to earn........................oh wait, barry's had that plan in place for years!

[Joe Boucher]

“What happens when the US cannot pay its own debt? “
Our banks then rob its depositors like Greece is currently about to do.