Puerto Rico’s complex debt crisis is shaping up as the first true test of Paul Ryan’s six-month old speakership.I'm pretty sure there is something fiendishly complex about loaning money to a country that requires each and every citizen of that country to pay its creditors $19.5 million. That's every citizen's share of the debt they racked up.
The Wisconsin Republican has pledged publicly that the U.S. House will find a "responsible" solution to the island’s debt crisis.Why start being responsible now? Wouldn't that time have been back when it was obvious that Puerto Ricans had exceeded any feasible means of repaying their creditors and stop lending them more money?
The responsible thing is to investigate and jail everybody who loaned Puerto Rico money after that point when it was impossible to repay the money, and hold them personally accountable. Don't just fine the banks and mutual funds and financial companies, find out who failed to carry out their fiduciary duty and jail them all for fraud.
Any institution that made those loans should get absolutely nothing and certainly nothing from the taxpayers in this country.
Unlike many of his previous challenges, this isn’t a mess he can blame on his predecessor. If he can’t forge a solution, it also doesn’t bode well for Ryan’s ability to bring hisOK, I did do the lineout and red word in the quote above. It's just funny to me how the failure to spend money and increase tax policy is always the fault of something that doesn't even exist anymore and never really did. There hasn't been a financially conservative Republican in Congress since Harriet Tubman died. I dare you to find one who didn't instantly roll over and splay his paws in the air and play dead if anybody even breathed the word, "crisis" because everyone leaped into action to spend more on the crisis and pack the spending bills with pork.
recalcitrant conservative caucusParty along on other spending and tax plans, which could be a recipe for the continuing gridlock and peril that ousted John Boehner.
The fabulists at Bloomberg seem keen to fix the blame for Puerto Rico's irrevocable insolvency and 70 billion dollar debt on Ryan, as something that just rolled down the pike on Ryan's watch starting 6 months ago.
A "responsible solution" to the islands debt problem is old, time-tested and fair. That's right, we sell the island and all the government owned infrastructure to Cuba for one dollar and let them assume all the debts and do with it what they want. Wages instantly assume socialist approved amount of $20/month and health care costs practically vanish. Imagine! A New Socialist Paradise with poor people and absolutely nothing else but sunny beaches.
If you think that is unjust, just look what France* demanded and got out of Haiti over the years until Haiti finally repaid the debt it 'accrued' when the slaves revolted and threw out the French and nationalized all their property.
I know what all the people in DC and Boston and New York City want to do in a responsible way. They want all of us to bail out the idiots and morons who created this problem and maybe set up a Puerto Rico Debt Recovery Agency staffed by 15,000 of the wealthy morons who created this problem, and get paid $680,000/year for life to "assist in recovering the troubled asset known as Puerto Rico".
And should you waste your time reading Bloomberg, ask where the problem lies now with our Iranian-President Agreement to end nuclear proliferation and stop firing missiles that was never submitted to the Senate for approval and which still, somehow, has the force of law. That piece of legislation just seems to have vanished now that Iran is seen to be firing missiles once a day and twice on Sundays and is clearly still spinning centrifuges to get fissile material for nuclear weapons. Nobody even talks about the deal Obama made unilaterally all by himself and apparently only with himself.
And, when you figure that out, ask yourself just how deeply unprincipled the people in the House of Representatives are that those in the majority would even breath about getting involved in Puerto Rico's hand built problem crafted over generations by the scum of the earth.
*Speaking of responsible, the only sources I could find in a quick search for the facts on this case were newspapers and various social justice institutes. There were no primary sources and not even any valid appearing secondary sources. Money was owed and extorted, circumstances and amounts vary.