Puerto Rico faces its worst economic crisis in more than a century due to a $72 billion debt burden that is unpayable. If Puerto Rico is unable to restructure its debts, the island will descend into an economic crisis that will wipeout savings, pensions and compromise its economic viability for generations to come.
President Obama must act decisively to help the 3.5 million American citizens living in Puerto Rico.
We urge the President to call for a full federal agency review of policies that are economically harmful to Puerto Rico, including health care reimbursement, and convene his Working Group on Financial Markets to develop an in-depth debt relief, repayment, and investment plan to stabilize the island’s economy.
We call on the President to take action on Puerto Rico now.