Posted on Jun 14, 2016
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Is this a further fact supporting the conclusion that Puerto Rico is IN FACT an "American Colony"?
Are the individual States under the same Federal restrictions on how their bankruptcy laws operate and, if not, how does "... and uniform laws on the subject of bankruptcies throughout the United States;" apply? (I really don't know so the question is NOT a rhetorical one.)
Are the individual States under the same Federal restrictions on how their bankruptcy laws operate and, if not, how does "... and uniform laws on the subject of bankruptcies throughout the United States;" apply? (I really don't know so the question is NOT a rhetorical one.)
With No Relief From Supreme Court, Puerto Rico Will Look Again To Congress
Posted from npr.org
Constitution
Puerto Rico
Law
Bankruptcy
Politics
Posted >1 y ago
Responses: 10
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Puerto Rico is simply another demonstration of the poor fiscal management exercised by our federal government. Although it has been given the right to select its governor by democratic vote, its head of state is the President of the United States. Thus, the buck stops on the desk of President Obama. I guess we'll just have to wait for him to save them from their plight as well as he's saved us... ... ... ... ... forgive me... ... I just threw up in my mouth
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COL Ted Mc
CPT Jack Durish - Captain; I'm surprised to learn that all of Puerto Rico's debt has been incurred since January 2009.
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I have no sympathy for PR whatsoever. For decades they've gotten all the benefits of being a state (Federal funds, federal services, etc) while paying NO taxes for them. Screw them. Time to pay the piper.
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MSgt Danny Hope
If they want to benefit, they should also contribute...become a full-fledged tax paying state and we'll bail you out.
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I also don't subscribe to the notion that Puerto Rico, The US Virgin Islands, American Samoa and Guam are colonies. Colonies have historically been established to for the purposes supplying the colonial power with whatever resources the geographical area provides. What to those locations provide?
Guam ... No real natural resources but it is strategically located and my favorite island.
American Samoa ... Future NFL players.
US Virgin Islands ... a lovely get away location.
Puerto Rico ... Tito Puente and the first ring in our defense against ... Cuba?
They might but I hope they don't. I'm don't subscribe to the notion of "too big to fail".
Will there be turmoil? Probably.
Will people suffer? Undoubtedly.
Will we be wiser for the lesson? Hopefully.
Why do we reward people for corruption or bad management? Stop spending more than you're taking in. Stupid should hurt.
Guam ... No real natural resources but it is strategically located and my favorite island.
American Samoa ... Future NFL players.
US Virgin Islands ... a lovely get away location.
Puerto Rico ... Tito Puente and the first ring in our defense against ... Cuba?
They might but I hope they don't. I'm don't subscribe to the notion of "too big to fail".
Will there be turmoil? Probably.
Will people suffer? Undoubtedly.
Will we be wiser for the lesson? Hopefully.
Why do we reward people for corruption or bad management? Stop spending more than you're taking in. Stupid should hurt.
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COL Ted Mc
MSG (Join to see) - Master Sergeant; Very few colonies have actually been a net economic benefit to the GOVERNMENTS that owned them, although most of them did return a good profit from the CORPORATIONS that operated within them.
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