Congress must help Puerto Rico by restructuring its debt burden

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This is an opinion item.

Author(s) The Miami Herald editorial board
Source The Miami Herald
Date March 9, 2016
Quotes-start.png Some Republican lawmakers remain skeptical. They’ve raised an important point: Allowing Puerto Rico to enter into a financial restructuring might weaken investor confidence in general obligation bonds issued by the 50 states, raising their costs of borrowing in the future. To avoid this outcome, Congress should craft a restructuring under the Territorial Clause of the U.S. Constitution that is designed only for Puerto Rico — and only this time. Puerto Ricans won’t like it, but the deal must include a federal oversight board to ensure that Puerto Rico lives within its means and meets its reduced debt obligations. Quotes-end.png

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This item argues against the position United States should bail out Puerto Rico on the topic Puerto Rican government-debt crisis.

This item argues for the position Puerto Rico should be allowed to declare bankruptcy on the topic Puerto Rican government-debt crisis.