Time is growing short for Congress to help Puerto Rico out of the worst debt crisis any state or territory of the United States has faced since the Great Depression nearly 100 years ago. By every possible measure, Puerto Ricans are facing a grim present and an even darker future unless Congress offers a helping hand.
What Puerto Rico needs is access to the same type of debt restructuring framework that every one of the 50 states of the union can use as an economic shelter of last resort. Congress can supply it, and should.
Were not talking bailout here. No federal loans or grants are required. What Puerto Rico needs is an act of Congress before a deadline for repayment as early as May. Action by lawmakers will allow the island to sideste…
Read the full article at: http://www.miamiherald.com/opinion/editorials/article65097862.html