Do you think we should bail out Puerto Rico?

2016-05-24T17:00:40-04:00

http://money.cnn.com/2016/05/02/investing/puerto-rico-default-may-1/index.html

It's getting worse for Puerto Rico. The island defaulted on $422 million in bonds related to its Government Development Bank on Monday. Congress is debating an aid package for the island.

Response by Nicholas Efstathiou made May 24 at 2016 5:07 PM

2016-05-24T17:07:59-04:00

I do. Not only because they are essentially Americans, but because of the sacrifices made by Puerto Rican service members over the decades. And, if we're going to look at it from a strictly mercenary point of view, by lending financial support to Puerto Rico we would be prohibiting the PRC from doing the same, especially when we consider how the PRC has been doing just that in Central and South America.

Response by SSG Private RallyPoint Member made May 24 at 2016 5:24 PM

2016-05-24T17:24:11-04:00

I believe we should allow Puerto Rico to declare bankruptcy. Let those who made the risky loans take the loss, I am tired of banks privatizing profits and socializing their losses. No bailout, just bankruptcy.

Response by MCPO Roger Collins made May 24 at 2016 5:33 PM

2016-05-24T17:33:29-04:00

No, check out who the debt holders are that we would be bailing out.

Response by Maj John Bell made May 24 at 2016 5:33 PM

2016-05-24T17:33:48-04:00

NO! Become an informed an intelligent voter. Become an informed and intelligent employee.

When fiscally IRRESPONSIBLE politicians CANNOT get elected, we will not have career fiscally irresponsible politicians. Fiscally RESPONSIBLE elected officials WILL get elected.

When fiscally IRRESPONSIBLE corporate executives cannot hire informed and intelligent employees, companies with fiscally RESPONSIBLE leadership will dominate the market place.

Because we made the mistake in the past does not mean we owe it to other failures to keep making the same mistake.

STOP FERTILIZING THE WEEDS!!!

Response by SGT Roberto Mendoza-Diaz made May 24 at 2016 6:42 PM

2016-05-24T18:42:19-04:00

I'm Puerto Rican and I do say no way.

Response by CPT Private RallyPoint Member made May 24 at 2016 9:39 PM

2016-05-24T21:39:45-04:00

No! The problems are only going to get worse and worse when the unavoidable financial corrections come.

Let it all crumble down so people can see the lies they were being told for what it truly is.

The problem is that we aren't learning from what is happening in Greece, Cyprus, Puerto Rico. Nor are we learning how successful we can be if we do what Iceland did.

Jail the liars, crooks, and thieves....err, bankers and politicians.

Response by SFC Private RallyPoint Member made May 25 at 2016 3:14 AM

2016-05-25T03:14:20-04:00

SGT Private RallyPoint Member I am from Puerto Rico and I am not even sure either way. On one side if the government cuts benefits and services, it will be the people that suffer not the elite. On the other hand, if the US bails out the government without any conditions or safeguards, we will probably see the same situation in 10-20 years. I really hope regardless of bailout or not, that some financial and political reforms get enacted so this does not happen again.

Response by SFC Joseph Weber made May 25 at 2016 6:13 AM

2016-05-25T06:13:52-04:00

As much as anywhere else in the United States.

Response by SGT William Howell made May 25 at 2016 6:15 AM

2016-05-25T06:15:08-04:00

Hell no! When they start paying Federal Taxes then we can revisit it. They dug this hole they can figure out how they can get out of it.

Response by SGT David T. made May 25 at 2016 7:44 AM

2016-05-25T07:44:00-04:00

Only if I can get a bail out too lol

Response by SGT Roberto Mendoza-Diaz made May 25 at 2016 2:17 PM

2016-05-25T14:17:41-04:00

Would the US government had decided to make Puerto Rico the 51st state years ago, the bankruptcy problem could have been averted.

Response by SGT Roberto Mendoza-Diaz made May 25 at 2016 2:19 PM

2016-05-25T14:19:27-04:00

If the US government had decided to make Puerto Rico the 51st state years ago, the bankruptcy problem could have been avoided.

Response by SPC(P) Private RallyPoint Member made May 25 at 2016 3:32 PM

2016-05-25T15:32:25-04:00

Absolutely not, they she default. We as a country are in no position to bail out a country.

Response by Lt Col John (Jack) Christensen made May 25 at 2016 4:22 PM

2016-05-25T16:22:53-04:00

My gut says No, but then my mind goes back to all the government bailouts over the last 10 years and I say why not. The problem with most previous government bailouts has been a lack of accountability, so this needs to be addressed. As one RP poster mentioned, if we don't bailout PR it will be the people who suffer, not the elites. IMO it was most likely these elites who allowed this crises to develop, so any bailout should mandate some action/consequences from the individuals who created the crisis.

Response by SPC Brian Mason made May 26 at 2016 1:53 AM

2016-05-26T01:53:35-04:00

Heck no. America is trillions of dollars in debt. It is not our responsibility to be bailing everyone out. Especially when there are countless homeless, starving, sick, jobless, needy people who need help here; first and foremost. The people in that country and others don't lose sleep at night. They don't send aid to try and make a paltry dent in our debt.

Response by SGT Private RallyPoint Member made May 26 at 2016 4:28 PM

2016-05-26T16:28:14-04:00

My response is No! The USA has made three different offers for Puerto Rico to become a state and there have never been enough voters to see it through. Most who live in Puerto Rico are Americans working, getting paid income tax free money in a country with a low cost of living. If I lived and worked there I wouldn't want it to become a state either.

Response by SFC Jim Ruether made May 26 at 2016 5:09 PM

2016-05-26T17:09:56-04:00

Absolutely NOT!