Sunday, December 1, 2013

Puerto Rico: The economy has been in recession for nearly eight years, crimping tax revenue and pushing the jobless rate to nearly 15%

Meanwhile, the government is burdened by staggering debt, spawning comparisons to bankrupt Detroit and forcing lawmakers to severely slash pensions, cut government jobs and raise taxes in a furious effort to avert default. The implications are serious for Americans outside Puerto Rico both because a taxpayer bailout would be expensive and a default would be far more disruptive than Detroit’s record bankruptcy filing in July 2013. Officials in San Juan and Washington are adamant that a federal bailout is not on the table, but the situation is being closely monitored by the White House, which recently named an advisory team to help Puerto Rican officials navigate the crisis. The island’s problems have ignited an exodus not seen here since the 1950s, when 500,000 people left for jobs in the United States. Now Puerto Ricans, who are U.S. citizens, are again leaving in droves. They are choosing the uncertainty of the job market in Orlando or New York City or Philadelphia over what they view as the certainty that their dreams would be crushed by the U.S. territory’s grinding economic problems. Puerto Rico lost 54,000 residents — 1.5% of its population — between 2010 and 2012 alone. Since recession struck in 2006, the population has shrunk by more than 138,000 to 3.7 million, with the vast majority of the outflow headed to the United States. The brutal combination of a long recession, a shrinking population and overwhelming debt has left Puerto Rico’s political leaders struggling to manage a conundrum: How do they tame at least $70 billion in debt while marshaling the resources to grow a shrinking economy and battle corrosive social problems, including a homicide rate that is nearly six times the U.S. average? And while government workers make up about a quarter of the commonwealth’s workforce — much higher than the U.S. average of 16% — their ranks are shrinking as the pervasive debt and economic problems careen toward a reckoning. Now, just over 41% of working-age Puerto Ricans are in a job or even looking for one. As work has disappeared, more Puerto Ricans have relied on the government to survive: About a third of the commonwealth’s population relies on food stamps, and residents of the island are twice as likely as those in the United States to receive Social Security disability benefits, according to researchers.


Anonymous said...

They left for 'jobs'? Really? Hahahahahaha!

John said...

Exactly how does it benefit the U.S. to have Puerto Rico's population as U.S. Citizens?

America is writing the book on how to transform yourself from a preeminent first world nation to a third world slum in 75 years. Not like it's a complicated formula. Replace the first world population with third worlders. What could possibly go wrong? After all, race is a social construct.

Luke Raines said...

I used to think that Puerto Ricans were only violent failures in the United States but it seems that they are just as bad in Puerto Rico.

Anonymous said...

We're in a race against time. The outcome will either be a posthuman future or utter barbarity.

Anonymous said...

Maybe they -- whoever they may be -- Maybe they should ship all the Puerto Ricans in the United States today -- like ALL the ones in my hometown of New York City for example -- Maybe they should ship ALL the Puerto Ricans in NYC SOUTH of THE Mason-Dixon line, considering how much the Southerners, especially the Southern Secessionists,always wanted to break off with the North and join IN-UNION with Mexico, Central America, the West Indies, Cuba, and Puerto Rico.

The Southerners always wanted to join IN-Union with the spics, so they should send ALL the spics living in the United States today South of THE Mason-Dixon. Give the Southerners, especially the Southern Secessionists, what they always wanted : To be IN-Union with the spics.

"Southern Slave Empire With Mexico, Cuba, West Indies"

"William Walker + The Southern Golden Circle Empire"

'Ole Rebel, Dutchy, Bernie, Hunter Wallace and ilk, and their good friends and earnest-and-ardent cohorts, the "salubrious" Jews, will know how to handle the spics they always wanted to be IN-Union with.

For a group the Southern Secessionist webmasters call "salubrious", the "salubrious" Jews are sure doing everything they can to turn the USA into a Talmudic/Noahidic Communist shithole.

The "salubrious" Southern Jews were/are NO different than the NON-"salubrious" Jews we label "Yankees" and rule the roost in Washington and Wall Street.

In-point-of-fact, the "salubrious" Southern Jews high-tailed it North after the South lost the WBTS to agitate for their "Golden Circle Empire" from Washington and NYC.

To a very large degree, the very reason the USA has Puerto Rico as a colony in the very first place is because of the "salubrious" Down South Jews, in cahoots with Northern Jews.

In fact, The Jew crime syndicate in the USA started with "salubrious" Jews Down South in South Carolina. Not that the Jews up North are any better. They are NOT.

It was a Jew, Leon Czolgoz, who assassinated McKinley. McKinley was not so gung-ho for the Spanish-American War and Empire. The "salubrious" Jews put in their Teddy Roosevelt into the Oval Office after the Jews had McKinley assassinated.

Teddy Roosevelt's mother was a Southern Georgia Bullock. The Bullocks played a role in starting the Confederate Secret Service to foment and incite a Civil War so the South could break free of the North and join In-Union with Mexico, Cuba, Central America, and Puerto Rico. The Bullocks were spies for the Confederacy before/during/after the WBTS. Teddy's Roosevelt's maternal heritage.

Maybe they should ship ALL the spics living in the USA today to Hunter Wallace's backyard. No, wait a minute.Ship half the spics to Hunter's backyard, the other half to Ole Rebel Bernie's backyard on top of Wolverton Mountain : How they do love the agenda of the "salubrious" Jews so much -- let them benefit from the "salubrious" Jew agenda they love to kibbles-and-bits and to no-end : In-Union with all the "salubrious" Jews and ALL the spics, in their very own "Southern" backyards.

~Da Bronx NYYankee Giuseppe ~