Obama urges Senate to pass Puerto Rico aid bill quickly
ASSOCIATED PRESS
President Barack Obama is urging the Senate to swiftly send him a bill to help Puerto Rico manage its staggering debt crisis.
WASHINGTON >> President Barack Obama is urging the Senate to swiftly send him a bill to help Puerto Rico manage its staggering debt crisis.
In his weekly Saturday address, Obama says a pending bipartisan bill is not a perfect solution. But he says it’s the only option to keep the U.S. territory from spiraling out of control.
The House bolstered prospects for Senate passage by voting overwhelmingly Thursday in favor of a rescue package to ease the island’s $70 billion debt.
Puerto Rico owes its creditors $2 billion payment by July 1.
Obama says only Congress can give Puerto Rico the tools it currently lacks to restructure its debt and find a sustainable path toward economic growth and opportunity for its people.
He notes that Puerto Rico’s residents are U.S. citizens.
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4 responses to “Obama urges Senate to pass Puerto Rico aid bill quickly”
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What about a Hawaii Aid Bill ? We’re almost in the same boat… with out a paddle.
Anything to expand dem voter base with a BAILOUT at the expense of us TAXPAYER money. Obama, the WORST potus in American history.
One debtor nation bails out another debtor nation. This is a house of cards that will collapse sooner or later.
Puerto Rico created its own financial crisis. Bailing out Puerto Rico will not stop there. Cities and states across the country will see it as a reason to continue spending beyond their means with the expectation that they too will be bailed out before filing for bankruptcy. What is good for Puerto Rico should be good enough for all.