My latest for NBC Latino.
It took me three days to absorb the rather sobering and depressing story in Sunday’s Washington Post about the ongoing economic crisis in Puerto Rico. The article basically summed up what I have always known from family, friends and conversations with island experts and politicians: Puerto Rico is bleeding.
Consider some of the more stark statistics from the article:
- The loss of 54,000 residents from 2010 to 2012, a 1.5 percent drop in population.
- A drop in population of 138,000 residents since 2006, bringing the island’s current population to 3.7 million.
- A $70 billion debt that is raising comparisons to Detroit.
- $37 billion in pension obligations that are not funded.
The story paints a picture of a sinking island, one with no way out. But lost in all the numbers and tales of woe, is a very perceptive analysis by Pedro Pierluisi, Puerto Rico’s Resident Commissioner and a non-voting member of Congress…
View original post 651 more words