Wednesday, April 13, 2016

Puerto Rico: To Bail or Not to Bail

Puerto Rico is $70 billion dollars in debt and desperately needs relief. They have appealed to the US Congress for help but have run into problems from the Republicans who claim that to give the help would set a dangerous precedent.


So why were the banks bailed out? Why was relief given to New York City in 1975? Bank of America was given $45 billion dollars in 2009. So far, Citigroup has received another $45 billion and may receive as much as $200 billion more. What's a measly $70 billion? And for US citizens in dire need. They may not live on the liberal left or righteous right coasts, but they are US citizens. They pay US taxes. They serve in the US military.

Is it because they're latinos? Is this a case of an entire governmental body being racist? Bail out the old white guys in the big banks but let the little brown kids starve?

Stop being hypocritical. If you're worried about setting a precedent, that ship has sailed. Cough it up, Congress.