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Puerto Rico’s Future Clouded Under New Debt Restructuring Plan

Ed Morales OpenDemocracy
Puerto Ricans participate in a silent protest in New York. Last month, Puerto Rico’s federally imposed Fiscal Oversight and Management Board announced its debt-restructuring plan that predictably will expand draconian austerity measures while ignoring policies that would promote economic sustainability.

Taxing Puerto Rico to Death

Nelson A. Denis Orlando Sentinel
Puerto Ricans on the island are the most heavily taxed of all U.S. citizens. From 2013 to 2014, 105 different taxes were raised in Puerto Rico. Over a 19-year period, from 1990 to 2009, Puerto Rico paid more federal taxes than six U.S. states. Puerto Rico is projected to have the worst economy on the entire planet in 2018.

How to Wipe Out Puerto Rico’s Debt Without Hurting Bondholders

Ellen Brown Counterpunch
As economist Michael Hudson says, “Debts that can’t be paid won’t be paid.” Puerto Rico is bankrupt, its economy destroyed. In fact it is currently in bankruptcy proceedings with its creditors. Which suggests its time for some more out-of-the-box thinking . . . .
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