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Thread: Trump says Puerto Rico's debt needs to be wiped out

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  1. #1
    Senior Member Judy's Avatar
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    Trump says Puerto Rico's debt needs to be wiped out

    Trump says Puerto Rico's debt needs to be wiped out

    By Jacqueline Thomsen
    10/03/17 11:14 PM EDT

    President Trump said Tuesday that the U.S. would have to “wipe out” Puerto Rico’s multi-billion dollar debt after Hurricane Maria.

    "They owe a lot of money to your friends on Wall Street and we're going to have to wipe that out," Trump said during an interview with Fox News. "You can say goodbye to that."

    “I don’t know if it’s Goldman Sachs but you can wave goodbye to that.”

    Puerto Rico had roughly $70 billion in debt before Maria hit.

    The debt had been a major obstacle for the U.S. territory as it fought for statehood. Bondholders had asked Congress and the Trump administration to hold off on granting statehood until Puerto Rico had paid off its debt.

    The island had been struggling economically since former President Clinton signed a tax reform law in 1996 that closed a loophole giving tax incentives for U.S. businesses to establish subsidiaries in Puerto Rico.

    Now, Puerto Rico officials are trying to recover from Hurricane Maria since it struck the island nearly two weeks ago. Less than 10 percent of the island has power.

    Trump visited the island Tuesday, meeting with local officials about the recovery process and distributing supplies to residents.

    http://thehill.com/homenews/administ...4-billion-debt
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    Moderator Beezer's Avatar
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    NO US TAXPAYER MONEY TO REBUILD PUERTO RICO...THEY ARE NOT A STATE

    THEY CAN GET A TELETHON STARTED FOR DONATIONS...USE THAT TO REBUILD

    WE ARE NOT THE ATM MACHINE FOR THE WORLD

    AND NO SOCIAL SECURITY, WELFARE OR FOOD STAMPS...GET A JOB AND PAY YOUR OWN BILLS

    NO US TAXPAYER LOANS THAT THEY WILL NOT PAY BACK...THAT THEY WILL STEAL AND SQUANDER THE MONEY!
    southBronx, Judy and jtdc like this.
    TO BECOME AN AMERICAN YOU MUST CHANGE YOUR VALUES ...NOT YOUR LOCATION

    STAY HOME AND BUILD AMERICA ON YOUR SOIL

  3. #3
    MW
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    I'm betting they don't owe money to Trump. Perhaps if they did, he would feel differently.

    "The only thing necessary for the triumph of evil is for good men to do nothing" ** Edmund Burke**

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  4. #4
    Senior Member Judy's Avatar
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    LOL!! He's just calling a spade a spade like he always does. He's right, though, those bonds are pretty worthless right now.
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