Drudge Retort: The Other Side of the News
Tuesday, November 14, 2017

Puerto Rico Governor Ricardo Rossello on Monday requested $94.4 billion from Congress to rebuild the island's infrastructure, housing, schools and hospitals devastated by Hurricane Maria. "This is a conservative estimate based on similar efforts that have been done in New York, New Jersey and of course in Texas most recently," Rossello said at a press conference streamed online from the National Governors Association in Washington.

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A hundred billion here... a hundred billion there... pretty soon we will be talking about REAL money!

#1 | Posted by donnerboy at 2017-11-14 05:26 PM | Reply

Trump would sooner sell off Puerto Rico to Russia than fund its reconstruction.

#2 | Posted by ClownShack at 2017-11-14 05:28 PM | Reply

Shack,
Let's be honest, nobody wants to pay for the Puerto Rican's mess.

I say we say "Puerto who? Don't know them." and then killfile them.
Or, if we are going to pay to fix it we turn it into a total resort island and put them on a reservation.

#3 | Posted by 101Chairborne at 2017-11-14 05:34 PM | Reply

Shack,
Let's be honest, nobody wants to pay for the Puerto Rican's mess.
I say we say "Puerto who? Don't know them." and then killfile them.
Or, if we are going to pay to fix it we turn it into a total resort island and put them on a reservation.

#3 | POSTED BY 101CHAIRBORNE AT 2017-11-14 05:34 PM

But we are okay with paying for Texas' mess and Florida's mess.

You know the main reason Puerto Rico is broke is because all of the profitable ventures are already owned by people who don't live there. They just sit back on the mainland and suck all the money out of PR.

Almost none of the money spent in PR stays in PR. The people there live on the leftovers.

#4 | Posted by hatter5183 at 2017-11-14 05:44 PM | Reply

This is on top of the $73B in debt that Puerto Rico owes and $50B in unfunded pension obligations that will come due in the next 5 years. They are already quasi-bankrupt under PROMESA and the PR Treasury Department has a 56% net compliance rate on taxes (to put it into perspective, the IRS rate for 2014 was 87%.) The entire island is a financial mess, largely of their own doing, and this additional $93B just makes it twice as bad.

#5 | Posted by Rightocenter at 2017-11-14 05:48 PM | Reply | Newsworthy 1

And what does the US as a whole owe by comparison, (per capita)

#6 | Posted by bat4255 at 2017-11-14 05:55 PM | Reply

largely of their own doing, and this additional $93B just makes it twice as bad.

#5 | POSTED BY RIGHTOCENTER AT 2017-11-14 05:48 PM |

So tell me what PR can do when mainland Americans own every source of income? The only jobs in PR are serving the Owners and the Tourists for pennies

#7 | Posted by hatter5183 at 2017-11-14 06:00 PM | Reply

I say we say "Puerto who? Don't know them." and then killfile them.

Didn't we have poster with the username PUERTORICO?

Wonder what happened to him.

#8 | Posted by ClownShack at 2017-11-14 06:01 PM | Reply

You know the main reason Puerto Rico is broke is because all of the profitable ventures are already owned by people who don't live there. They just sit back on the mainland and suck all the money out of PR.

Uh, no, what you are describing was the effects of IRS section 936, which was finally repealed in an effort to keep profits on the islands, but had the opposite effect. The reason that PR is in such a financial mess is that once Section 936 of the tax code was phased out starting in 1996, PR started issuing bonds at an alarming rate to make up for lost revenue when companies started leaving the island due to the elimination of their tax exempt status. By the late 2000s, PR was about to default on all those bonds, so the Public Finance Corporation stepped in, and in 2015 PR finally defaulted on that debt. President Obama and Congress rushed PROMESA into law, but the creditor protections expired on May 1, 2017 and PR entered into quasi-bankruptcy.

#9 | Posted by Rightocenter at 2017-11-14 06:08 PM | Reply

This is on top of the $73B in debt that Puerto Rico owes and $50B in unfunded pension obligations that will come due in the next 5 years. They are already quasi-bankrupt under PROMESA and the PR Treasury Department has a 56% net compliance rate on taxes (to put it into perspective, the IRS rate for 2014 was 87%.) The entire island is a financial mess, largely of their own doing, and this additional $93B just makes it twice as bad.

#5 | POSTED BY RIGHTOCENTER

Maybe if we stopped pass laws that screwed them financially, they wouldn't have those issues.

Just a thought...and a fact...

#10 | Posted by Sycophant at 2017-11-14 06:11 PM | Reply

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And what does the US as a whole owe by comparison, (per capita)

It's about 16K per capita for PR, but the only way that number has meaning is to compare it to US States per capita debt, and is ten times higher as the average State per capita debt and is 4K higher than the next highest state, which is Massachusetts.

Don't forget, PR's obligations are no different than State and Municipal debt, and State debt per capita indicates the ability of local residents, through taxes, to support their government's debt burden. And Puerto Rico has more Provincial and Municipal bond debt per capita than any American state by far.

#11 | Posted by Rightocenter at 2017-11-14 06:21 PM | Reply

Just a thought...and a fact...

#10 | POSTED BY SYCOPHANT AT 2017-11-14 06:11 PM

Sorry to break this to you, but the two laws that screwed them the hardest, the repeal of §936 and PROMESA, were signed into law by Clinton and Obama.

#12 | Posted by Rightocenter at 2017-11-14 06:22 PM | Reply | Newsworthy 2

Send the bill to exxon, the ones who've been paying fake scientists to doubt climate change for 40 years, so they could continue to rake in profits from climate changing pollution.

#13 | Posted by SpeakSoftly at 2017-11-14 07:31 PM | Reply

#13

Deflection noted.

#14 | Posted by Rightocenter at 2017-11-14 07:43 PM | Reply

Deflection noted.

#14 | Posted by Rightocenter

Hows it a deflection? Send the bill to the people who caused the damage.

Oil companies and their republican puppets.

#15 | Posted by SpeakSoftly at 2017-11-14 07:49 PM | Reply

US debt

www.usdebtclock.org

#16 | Posted by bat4255 at 2017-11-14 08:16 PM | Reply

#15

It must be refreshing to only see in black and white, subtle shades of grey can be so confusing for the simple minded.

#17 | Posted by Rightocenter at 2017-11-14 08:19 PM | Reply

It must be refreshing to only see in black and white, subtle shades of grey can be so confusing for the simple minded.

#17 | Posted by Rightocenter

Am I denying any shades of grey?

Of course some dems have taken money from polluters and protected them too.

But repubs are the preferred party of polluters and the only political party on earth still questioning man made climate change.

Even the simple minded know that. Do you?

#18 | Posted by SpeakSoftly at 2017-11-14 08:38 PM | Reply

US debt

www.usdebtclock.org

#16 | Posted by bat4255

Yeah climate change cleanup is expensive. Tell it to all the chumps who whine about clean energy costing too much.

#19 | Posted by SpeakSoftly at 2017-11-14 08:39 PM | Reply

They should hit up the Clinton foundation.

#20 | Posted by Federalist at 2017-11-14 08:47 PM | Reply

"They should hit up the Clinton foundation"

Took two seconds:
www.dailypress.com

#21 | Posted by Danforth at 2017-11-14 08:49 PM | Reply

They should hit up the Clinton foundation.

#20 | Posted by Federalist

Right out of putin's playbook. good job.

rationalwiki.org

Whataboutism (also known as Whataboutery) is a form of defensive propaganda used to counter criticism (usually from "the West", and usually on blatant human rights abuses) with a "What about...?" -- question vaguely, if at all, related to the original issue. It is a specialized red herring version of the tu quoque fallacy, sometimes implementing the balance fallacy as well. An old favorite of Communists (especially tankies),[1] the strategy originates from the Soviet era, and was usually used in the form of "And at your place, they hang black people".[2]

#22 | Posted by SpeakSoftly at 2017-11-14 08:55 PM | Reply | Newsworthy 1

#21 | Posted by Danforth
Just like Haiti?

#23 | Posted by Federalist at 2017-11-14 10:04 PM | Reply

"up to bring solar power to Caribbean"
Call me when that happens.

That's what they need now. LOL

#24 | Posted by Federalist at 2017-11-14 10:08 PM | Reply

"Just like Haiti?"

Oh, look: The monkey continues to throw his feces against the wall, hoping something sticks.

#25 | Posted by Danforth at 2017-11-14 10:16 PM | Reply

At least he didn't say "Clinton"... maybe there's hope?

#26 | Posted by REDIAL at 2017-11-14 10:27 PM | Reply

How about the US sinks the money into PR in return for it becoming it a wholly owned subsidiary or at least a part of Florida. It's citizens become Floridians. Then it's worth investing in. I suspect they would go for it and bo/h sides would be better off in a number of ways.

#27 | Posted by bogey1355 at 2017-11-14 11:28 PM | Reply

It's citizens become Floridians.

They're Americans now, so I don't think that would make much difference.

#28 | Posted by REDIAL at 2017-11-14 11:33 PM | Reply

Non voting citizens.

#29 | Posted by sitzkrieg at 2017-11-15 08:15 AM | Reply

Uh, no, what you are describing was the effects of IRS section 936, which was finally repealed in an effort to keep profits on the islands, but had the opposite effect. The reason that PR is in such a financial mess is that once Section 936 of the tax code was phased out starting in 1996, PR started issuing bonds at an alarming rate to make up for lost revenue when companies started leaving the island due to the elimination of their tax exempt status. By the late 2000s, PR was about to default on all those bonds, so the Public Finance Corporation stepped in, and in 2015 PR finally defaulted on that debt. President Obama and Congress rushed PROMESA into law, but the creditor protections expired on May 1, 2017 and PR entered into quasi-bankruptcy.

#9 | POSTED BY RIGHTOCENTER AT 2017-11-14 06:08 PM

All the repeal of 936 did is get rid of the tax break for corporations that built there. It did nothing about the fact that all the revenue generators in Puerto Rico are owned on the mainland and all of the revenue leaves the island.

Tell us something that Puerto Rico did to cause their problems you say are their fault.

Puerto Rico did not change our tax code.

#30 | Posted by hatter5183 at 2017-11-15 09:58 AM | Reply | Newsworthy 1

Saying Puerto Rico's debt is their own fault is like saying the trillions in US debt created by military interventions where we have no place to be is my fault

#31 | Posted by hatter5183 at 2017-11-15 10:05 AM | Reply | Newsworthy 2

Saying Puerto Rico's debt is entirely someone else's fault is as dumb as saying Puerto Rico's debt is entirely someone else's fault.

#32 | Posted by Sully at 2017-11-15 10:20 AM | Reply

Non voting citizens.

#29 | POSTED BY SITZKRIEG

So, I guess that means politicians don't have to give a crap about them...

#33 | Posted by WhoDaMan at 2017-11-15 12:12 PM | Reply | Newsworthy 1

"Saying Puerto Rico's debt is entirely someone else's fault is as dumb as saying Puerto Rico's debt is entirely someone else's fault."

Yeah, the individual citizens of Puerto Rico are responsible for that debt. Hell they have piles of money hidden in their hovels. There are many reasons for Puerto Rico's debt but it is not the fault of the average Puerto Rican, it is more the fault of crooked politicians and bankers in PR and here in the USA.

#34 | Posted by danni at 2017-11-15 12:23 PM | Reply | Newsworthy 1

When Congress changed the tax laws that created the incentive for businesses to locate there, those businesses all left because they no longer got the tax breaks that Congress created in the first place. Puerto Rico is not represented in Congress, so how is it their fault?

#35 | Posted by WhoDaMan at 2017-11-15 12:36 PM | Reply

#34 if you want to take issue with what I said then leave the goalposts where they were. Crooked Puerto Rican politicians are not some outside group. They are Puerto Ricans who were put in office by Puerto Ricans. Blaming outside parties for a problem they largely caused is dumb. As was your idiotic attempt to pretend I indicated that average Puerto Ricans stole money or whatever you are babbling about. Kindly grow up.

#36 | Posted by Sully at 2017-11-15 12:38 PM | Reply

AMERICA

ROSALIA
Puerto Rico,
You lovely island . . .
Island of tropical breezes.
Always the pineapples growing,
Always the coffee blossoms blowing . . .

ANITA
Puerto Rico . . .
You ugly island . . .
Island of tropic diseases.
Always the hurricanes blowing,
Always the population growing . . .
And the money owing,
And the babies crying,
And the bullets flying.
I like the island Manhattan.
Smoke on your pipe and put that in!

OTHERS
I like to be in America!
O.K. by me in America!
Ev'rything free in America
For a small fee in America!

ROSALIA
I like the city of San Juan.

ANITA
I know a boat you can get on.

ROSALIA
Hundreds of flowers in full bloom.

ANITA
Hundreds of people in each room!

ALL
Automobile in America,
Chromium steel in America,
Wire-spoke wheel in America,
Very big deal in America!

ROSALIA
I'll drive a Buick through San Juan.

ANITA
If there's a road you can drive on.

ROSALIA
I'll give my cousins a free ride.

ANITA
How you get all of them inside?

ALL
Immigrant goes to America,
Many hellos in America;
Nobody knows in America
Puerto Rico's in America!

ROSALIA
I'll bring a T.V. to San Juan.

ANITA
If there a current to turn on!

ROSALIA
I'll give them new washing machine.

ANITA
What have they got there to keep clean?

ALL
I like the shores of America!
Comfort is yours in America!
Knobs on the doors in America,
Wall-to-wall floors in America!

ROSALIA
When I will go back to San Juan.

ANITA
When you will shut up and get gone?

ROSALIA
Everyone there will give big cheer!

ANITA
Everyone there will have moved here!

#37 | Posted by WhoDaMan at 2017-11-15 12:40 PM | Reply

#3 | Posted by 101Chairborne

Maybe so, but I don't want to pay Houston, Florida, etc. either but since they are Americans we owe it to them to help them rebuild - in a smarter fashion. I mean these people are on an island - not limitless good places to build given the situation. People in Florida and Houston don't need to live in low areas or on the coast. BUT our government also perpetuates that situation with the Flood Insurance program. Frankly Congress has created much of the mess that is PR. I know Puerto Rican politicians didn't help but our congress is the root cause for burdens they placed on PR.

#38 | Posted by GalaxiePete at 2017-11-15 01:56 PM | Reply

This amount is just $10 billion more than the amount the Federal Reserve was feeding criminal Wall Street Bankers every month for three years with QE1, 2 & 3.

The people suffering today and saddled with the debt from criminal Bankers had nothing to do with creation of those debts. Just like making everyone on this site pay for the unnecessary war in Iraq.

#39 | Posted by bayviking at 2017-11-15 10:25 PM | Reply

The entire island is a financial mess, largely of their own doing, and this additional $93B just makes it twice as bad.

This ought to end any nonsense about making Puerto Rico a state.

#40 | Posted by AndreaMackris at 2017-11-16 09:53 AM | Reply

Hmmmm.... $94.4 billion...

Let's see: estimates were $20 billion to repair the infrastructure. What do they need the other $75 billion for? OH RIGHT, THEY'RE $75 BILLION IN DEBT.

#41 | Posted by MUSTANG at 2017-11-16 11:16 AM | Reply

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