Puerto Rico | After a hurricane and years of overspending, budget-strapped politicians in Puerto Rico are sparring with feds for a big-time bailout
by Marvin Olasky
Posted 4/12/18, 11:17 am
Strike one: Puerto Rico last May, $123 billion in debt, became the first U.S. state or territory to admit it is essentially bankrupt. Strike two: Hurricane Maria last September ravaged the island. Strike three: Early this month Puerto Rico Gov. Ricardo Rosselló rejected the plan of a federal oversight board appointed to rein in the free-spending tendencies of territorial politicians.