Don’t Listen To Media Screeching Over Puerto Rico

Sparta Report | 3/4/2018 | Staff
TimHyuga (Posted by) Level 3
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For decades, and governor after governor, Puerto Rico has failed to govern and deliver an economy that actually allows people outside of the governing elite to become wealthier. Instead, Puerto Rico’s leaders have been more interested in short-run gimmicks and crony giveaways, like the Whitefish debacle and other sketchy contracts, than the long-run fiscal health of their own economy.

However, the real issue is that Puerto Rico has failed to produce audited financial records for decades. Sen. Orrin Hatch, R-Utah, tried to address these concerns back in 2016, requesting “updated, verifiable information” on the finances of Puerto Rico, to no avail. And, 18 months into their tenure, the oversight board tasked with remedying this has failed to bring any clarity to the island’s financials.

December - Puerto - Rico - Oversight - State

Worse, in December, Puerto Rico “found” more than $6 billion. This isn’t a simple oversight. And, given the state of Puerto Rico’s finances over the last few years, this is...
(Excerpt) Read more at: Sparta Report
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