Posted on 04/25/2016 9:09:11 AM PDT by yoe
Puerto Rico’s complex debt crisis is shaping up as the first true test of Paul Ryan’s six-month old speakership.
[snip] The high stakes explain why Ryan’s office has been involved -- often behind the scenes -- from the start. It could also ultimately find him having to strong-arm or bypass fellow conservatives, a move that would also break his promise for a new, bottom-up approach to running the House.
Either way, time is running short. Congress is already blowing through a May 1 debt repayment deadline and Ryan needs to get something through both chambers before July 1 to avoid a likely default by Puerto Rico and a failure that could haunt his tenure.
Ryan’s immediate decision will be how much more time to give Natural Resources Chairman Rob Bishop of Utah, who Ryan put in charge of the bill, to forge a solution before taking over.
(Excerpt) Read more at dailyreadlist.com ...
Can we sell it off to China?
Puerto Rico’s politicians wanted to play Santa Claus with other people’s money and the short-sighted, greedy voters rewarded them for it. Now they are paying the consequences. Why does Congress have to do anything about that? Why does Ryan have to “strong-arm or bypass fellow conservatives” who stand for the principle that you have to live with the consequences of your actions? (As an aside, you have to love the article calling them Ryan’s “fellow” conservatives.) If Congress is going to do anything, it needs to be to force Puerto Rico to stop spending beyond its means. But Congress can’t even force the federal government to stop spending beyond its means so I don’t hold out much hope.
Note to Wisconsin voters: If all Paul Ryan does all the time is work to marginalize "fellow" conservatives than maybe he actually isn't a "fellow conservative" at all.
This is not complicated, DEFAULT, tell the Banksters to GO POUND SAND, then go to a Cash Basis for the whole island.
Ryan needs to get something through both chambers before July 1 to avoid a likely default by Puerto Rico and a failure that could haunt his tenure. Ryan's immediate decision will be how much more time to give Natural Resources Chairman Rob Bishop of Utah, who Ryan put in charge of the bill, to forge a solution before taking over.How about this -- Puerto Rico gets its independence and joins the EU? Worked for Greece.
PR is an amazing asset for the US to hang on to and keep for the long term.
But...but...that would make banks think twice before financing the deficit of out of control governments! That would put some discipline around out of control governments! We cannot have that happen! Paul Ryan to the rescue.
That is the way is SHOULD BE but somebody is making money from this and I am not talking about the welfare state of PR. Somebody will find a large plain brown sack on their front porch full of money....
Send them a trillion dollars. Just put it on the country’s tab and let some future administration deal with the bill.
Privatize the Gains and Socialize the Losses, Central Banking 101.
he wants what is essentially a bailout of Puerto Rico that is in the hundreds of Billions.
This has NOTHING to do with Puerto Rico, it is about Saving WALL STREET from Themselves, they Gambled Big and LOST, Ryan’s Job is to make YOU AND I PAY THE LOSSES!
Or maybe Ms. Tub man?
This is a dry run to lay the groundwork to bail out California and other leftist utopias.
if ANYONE bails out Puerto Rico, they are the political enemy of true conservatives. It is that simple.
We should totally sell MexiRico to the Chinese before the island capsizes
Why are we bailing out foreign socialists? Could Greece use some cash. Ryan’s Uncle Sucka is on the move.
Isn’t it already part of NY?
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