The Puerto Rico Disaster

I just read that many of our elected officials are in Puerto Rico. Here is the Unsaid about that island, or at least something that has not been widely reported in the U.S. Puerto Rico is in the middle of an economic disaster.

Part of it is, guess what, public employee pensions that are both generous and underfunded. The government is essentially bankrupt.

http://www.reuters.com/article/2014/07/23/us-puertorico-debt-analysis-idUSKBN0FS0A420140723

This has led to a host of problems including blackouts,

http://www.reuters.com/article/2014/08/15/us-usa-puertorico-utility-insight-idUSKBN0GF0C320140815

rising crime, and the collapse of public services. The island is emptying out as people flock to the mainland U.S. to find jobs.

http://news.yahoo.com/puerto-ricans-flock-us-mainland-island-crisis-worsens-221252402.html

I know about this because only I play paddleball with someone with relatives there, including an aging mother-in-law. His family travels there frequently and he tells me that conditions have gotten worse and worse for a decade. Also, given that it is part of the United States, why isn’t Puerto Rico the most popular Caribbean vacation destination for Americans? Why all this is happening, I don’t know, but there is clearly a big story there somewhere. Longterm rot has led to crisis and disaster.

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