Thursday, October 01, 2015

give it a minute pedro, believe me, you ain't seen NOTHIN yet...,


cnn |  Puerto Ricans feel like second class citizens in the United States. 

That's the message Puerto Rico's lone Congressman, Rep. Pedro Pierluisi, had for his colleagues Tuesday in a harsh rebuke of Congress' treatment of Puerto Rico.

"If you treat us like second class citizens, don't expect us to have a first class economy," Pierluisi said to the Senate Finance Committee in a hearing. "Congress treats Puerto Rico in a discriminatory fashion under numerous programs."

Pierluisi has a point. The island is in the midst of a massive a debt crisis after having defaulted in August, and Congress isn't helping out much.

Puerto Rico owes $72 billion to its creditors and the island's governor, Alejandro Garcia Padilla, says the debts can't be paid. High-skilled Puerto Ricans are leaving the island for mainland U.S. for better-paying jobs.

The commonwealth's government offered an extensive plan to pay back its debt in early September, but even that falls short by $14 billion of what's needed. The governor is demanding that Puerto Rico have chapter 9 bankruptcy rights and that its creditors take a steep discount.

"We cannot allow them to force us to choose between paying for our police, our teachers, our nurses, and paying our debt," Padilla said in a televised announcement on June 29.