Posted on 05/19/2016 4:27:32 PM PDT by GilGil
Actually at the moment the bankruptcy code does not permit states to declare bankruptcy. I think that is rather silly. But it is what it is.
I agree that amendment of the Bankruptcy Code to allow Puerto Rico to deal with this mess in Bankruptcy Court like any state is the reasonable solution.
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Let them go BK and suffer the consequences.
The next time it occurs to you to mumble, sleepily, "Well, why are all of those Trump supporters so gosh-darned mad at us, anyway...?":
Think. Back.
There’s no bailout that Ryan won’t support nor Obama budget that he won’t fully support.
Let Puerto Rico be our little Iceland test case. They recovered quickly after zero bailouts.
If taxpayers aren’t paying for this, then it is either bondholders or the printing press who will pay for it. “Ryan, they bought their tickets, they knew what they were getting into. I say, let ‘em crash.”
Paul Rhino and Mitch Turtlehead - this is the best the GOPee has to offer? Count me out. I will write myself in. What good does it do to vote? We end up with these Dem-lite leaders of the uni-party and whatever they cannot destroy the Judicial branch will.
I have nothing against Puerto Ricans, but, the USA has given them several chances to be a state and they turned the generous offer down each time.
Welfare they don’t turn down, bailouts they don’t turn down, special laws that brought the Big Pharma to PR, the don’t turn down. They just don’t love America enough to want to pay taxes and support our country. They are in the wagon, not helping pulling the wagon, they are not deserving of a bailout.
We are 20 trillion in debt. Ryan is out of touch with Conservatives, Tea Party, and Americans out of work but no longer getting unemployment benefits.
How can we pay for people who never contribute yet not support citizens who are victims of CRA, bad trade deals like Nafta, and bad deficit spending.
They need to become a state or give up all their goodies. They should not be able to play this game.
BOHICA.
WHY is it the responsibility of the taxpayers to help PR? They get Social Security, their Roads are federally funded, they get to VOTE (and I'd stop that crap quick) yet time and time again they refuse to become a State.
I do NOT want anymore of my hard earned money going to them I don't CARE that PR is bad off, they did it to themselves and have REFUSED to do anything different to change things ( Kinda like Obama wannabees).
I'm sick of bailing out people, and foreign cities and countries, when our OWN United States is circling the bowl!
PR made their mess, now let them pay for it, or NOT pay for it, let them collapse, then figure out how to remake their Country, and not get in the same mess again.
States, territories, and countries don’t need to “declare” bankruptcy or go through federal “bankruptcy court.” They are sovereign entities, i.e. they can just decide to stop paying their bills. There is no court which can force them to do anything. They have to face the market for future debt issues of course, and there’s traditionally been a threat of war against sovereigns which don’t pay their bills. No need for the US federal government to pay off or even help “restructure” the debts of a foreign country.
I assume it is complicated but simple too. PR needs to make deal with its creditors not the taxpayers of other jurisdictions. We can NOT set a precedent where the sane people of NH and WY pay for the insane decisions of PR CA and IL. We already overpay for their delirium, to make their citizens not responisible for their lunacy can not stand.
Yes, but this change is designed to create a precedent whereby cities like Chicago and New York and Baltimore can petition for similar treatment in order to alleviate their pension shortfalls and high borrowing costs. Once a non-state receives help, there is nothing to stop the handouts to real American cities.
Just so we’re it’s imperative that Americans give up their social security that they have paid into for decades but Puerto Rico MUST be bailed out. What a conservative standard bearer. Trump should go nuclear on this moron
Paul Ryan, who made Joe Biden look like a member of MENSA.
There are 534 other members of congress. Two people - Ryan & O - are acting like this is the USSR.
The little bastard needs to be taken to the shed
Puerto Rico needs to be jettisoned.
The Free Traitors don't mind that too much but tariffs to give US industry and labor half a chance? Oh, that's horrible, that's not a free market.
Yeah, I looked that up and states can’t file federal bankruptcy. That makes things interesting.
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