Puerto Rico Hurricane Impact

Most Americans, don’t know how Puerto Rico got the way it is and like Nelson said many believe that the debt we have is one that was 100% our fault. However, most don’t understand the deep history and relationship Puerto Rico has with the United States and how the way we have and continued to be treated has a lot to do with the debt Puerto Rico

Many United States' citizens are unaware of the country's current financial state. Many assume that one of the world's wealthiest countries could never be in debt. This is untrue however, and, in fact, the country with the greatest income per capita is in major debt. This study will examine possible solutions to reducing the United States' national budget deficit.

Some opponents may heighten the acceptance of Puerto Rico into statehood to the acceptance of a debt-ridden Greece into the European Union—a copious financial burden on the collective economy—and therefore, would not be beneficial to the U.S. economy. In ironic opposition to such somewhat reasonable paranoia, and potentially malicious comments, it is mainly U.S. investors and entities who continue to buy and hold the majority of Puerto Rican debt, taking advantage of Puerto Rico’s legal inability to default on their debt as a way to fundamentally guarantee various creditors regardless of the territory’s economic state (Meacham). The U.S. can eliminate the potential of corporations taking advantage of Puerto Rico’s economic status by making new laws and regulations, thus forcing corporations to pay corporate taxes not previously paid. The influx of federal taxes would help offset the balance of debt created by statehood, and an increased flow of tourism would also benefit not only the mainland, but also the island as it is a decently sized proportion of the island’s economy (Lilley). According to a study in 2005, about 40% of the Puerto Rican population aged 25 to 44 have earned an associate’s degree or a

“Ten Trillion and Counting,” presented by Frontline provides quite a picture of America’s national debt as it surpasses the trillion dollar mark. They ponder the financial well being of current and future retirees while also exposing on how America got into this mess, and what the Obama administration plans to do during his term. America is able to close the gap year to year in its national budget by selling bonds and T-bills. Foreigner countries who continually purchase these obligations are beginning to grow. Much like the Bush administration, the Obama administration has started borrowing big with plans to cut the budget years down the road. It is clear for anyone to see that this borrowing and the future promises of cutting cannot go

After the hurricane, Puerto Rico was left helpless. The island was left devastated. Downed trees lined the island. It's not just downed power lines around the island, but giant transmission towers laying across roadways in the most remote parts of the island. Leaving the entire island without power. The longest blackout in American history. Most Americans do not realize how bad of a situation Puerto Rico is in. It's poor economic status has doomed the territory for many years to come. This image from CNN, shows the percentages of power up all across the island (Santiago 2017). As you can tell many places could not be contacted. Major Carmen Yulin Cruz is very frustrated with the relief efforts. Unfortunately humanitarian efforts are not quickly

In order to lay the court foundation for the newly state of Puerto Rico, it is important to understand a brief, recent history and basic principles which make up the state. Puerto Rico is a commonwealth island located in the Caribbean about 1,000 miles southeast of Florida, between the Caribbean Sea and the North Atlantic Ocean. In 1952, the people of Puerto Rico established a constitution, recognizing a republican form of government. (Berenshteyn, 2014) The island is under the jurisdiction of U.S. customs and allows free movement of people and commodities within the territory and the United States, which is significant because its climate, history, and the atmosphere makes the island a very popular tourist destination. However, the economic crisis has prompted a migration of Puerto Rican citizens to seek other horizons in the United States, leaving its population at just over 3.5 million people; one-third of the population is located in the capital, which is San Juan. (U.S. Census Bureau, 2015) The other two thirds are disbursed throughout the other divisions.

Even though Puerto Rico is American territory the citizens on the island do not vote in the elections and are completely separate political wise. Which is why it is important that one should decide on what to do with Puerto Rico with the people’s approval and see the changes for the better or worse. According to the Huffington Post “Puerto Rico is in Serious Trouble” which is the headline of one of their latest article. The article explains how Puerto Rico is in debt with about seventy billion dollars and their government claims they cannot pay it. Puerto Rico is having a financial crisis at the time and is continuing to struggle paying its debts.

Puerto Rico remains devastated as the remnants of Hurricane Maria are scattered all over. The storm caused an estimated 3.4 million people without power, and the island’s power infrastructure had been destroyed. Windows were blown out in apartment buildings and hotels throughout Puerto Rico. Some restaurants and buildings lost their roofs. Parks are covered with debris, sand, and

Surely this is a small drop in Puerto Rico debt bucket but it is a start in the right direction from

1. Recovery from the Category 4 hurricane is still moving slowly. Hurricane Maria is the strongest hurricane to hit the island in 80 years.

In Figure 2, we observe an overall increase in the Municipal Debt from 1997 to 2013. Making a parallel between state and local debt, the state debt shows a steady trend, while the local debt shows a significant increment during this period of time.

The purpose of this paper is to shed light on three main issues by discussing several different viewpoints presented in the Case 11.1 -- Dangerous Stratagems. The first aim is to find the weaknesses of each strategy in the Case 11.1—Dangerous Stratagems. Subsequently, explaining the reaction of the bond rating agencies regarding California’s 2003 budget. The second mission is to nominate the most and the least dangerous strategies with an explanation. The third purpose is to provide a recent example of each strategy. The aim of this assignment will be to analyze and incorporate the information presented through scholarly articles, journals, current events, as well as personal experiences to substantiate the proposal. Upon final analyzation

Throughout most of the country’s history, the United States’ federal government maintained a reasonable level of national debt. For example, the total national debt in 1981 was $998 billion. Since then, however, the government has generated significant budget deficits, and the level of debt has risen to $16.7 trillion in 2013 (Calleo, 39). Budget deficits are caused

The municipals have come to the conclusion of considering filing for bankruptcy because of the accumulation of public pensions that have been growing exponentially, high salary, benifit costs, and the low tax revenues. On the opposite end of the specctrum, there are many states in uproar that think filing for bankruptcy would be against the law or unconstitutional. The states against the filing of bankruptcy think that doing so would have a negative effect on the bond market. According to the Pew Center on the States these public pensions are said to be $1 trillion. In a study it was estimated that the aggregate debt for the U.S. was $4.17 trillion in the year 2012.

Trump being a person of power who tends to persuade people by scaring them and providing information without much thought and knowledge might also indicate why Puerto Rico received less help. Trump tweeting “they want everything done for them” evoked the stereotype that Latinx people are lazy. He implied that the people are just complaining and not doing anything to help themselves. However, he did not state the same thing to the victims of Harvey and Irma. It indicates that just like Trump many view Puerto Ricans as foreigners