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Bullshit Trump Says

 
Lectro fucking wrong on nearly everything, but he's on the money with the Puerto Rico debt forgiveness line. I'm unaware of the details of Trumps "idea(?)" but I know the the Democratic party won't touch the idea.
 
Lectro said:
“Investors already on edge about Puerto Rico’s ability to pay back its debts sent the island’s general obligation bonds yielding 8% down by nearly 20% Wednesday. Though experts opined such a move was unlikely with Mick Mulvaney, director of the Office of Management and Budget later trying to soothe markets by saying Puerto Rico “is going to have to figure out how to fix the errors that it’s made,” investors remained spooked.

Granted, Trump’s comments Tuesday would have merely piled onto a growing stack of woes for Puerto Rico and its bondholders. Puerto Rico heavily financed its expansion via debts in the early 2000s as companies began setting up offices on the island. But after tax break for U.S. companies in Puerto Rico expired in 2006, jobs and citizens left the island, pushing the commonwealth into an economic recession. With a weakened economy Puerto Rico unable to pay its now sizable debts. Finally in May, Puerto Rico filed a form of bankruptcy, with a turnaround plan that offered to pay $800 million a year to the island’s creditors — about 25 cents on the dollar.”
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Why did the Republican Congress let the tax break expire in 2006 thus crashing the PR economy and undermining the governments avenue for managing their debt?
 
Last edited:
birdman said:
Why did the Republican Congress let the tax break expire in 2006 thus crashing the PR economy and undermining the governments avenue for managing their debt?
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Busy MAGA?
 
 
Hopefully someone else gets to push the send button.

“Here’s what I want to say.”

“Uh, sure Mr. President...”
 
TBH, I would be pretty amused to receive a FEMA text that ended with “no collusion”
 
Pretty much my reaction when Lectro, Moonz, sailor, MHB or MDMH come around these parts.

 
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