« Whitewashing Sandra Bland's MurderThe Great Satan »

Puerto Rico’s Debt Crisis

July 28th, 2015

by Stephen Lendman

Officially called a “Free Associated State or Commonwealth,” Puerto Rico has been exploited as a US colony since 1898. Its elected governor is powerless - little more than a potted plant ruled by Congress with America’s president its head of state.

Washington never granted islanders control of their lives, welfare and destiny. They have no say over foreign relations, commerce and trade, their air space, land and offshore waters, immigration and emigration, nationality and citizenship, currency, maritime laws, military service, US bases on its territory, constitutionality of its laws, jurisdictions and legal procedures, treaties, radio and television, communications, agriculture, its natural resources and more.

Independence supporters aren’t tolerated - men like Oscar Lopez Rivera, a decorated Vietnam War veteran, wrongfully imprisoned for wanting Puerto Ricans to live free, behind bars for over three decades.

Washington wants to continue exploiting its Caribbean colony for profit - raping and pillaging it at the public’s expense, much like what’s happening to Greece.

Athens is trapped in the euro straightjacket - Puerto Rico in America’s claws. Nominally, islanders handle their own local affairs, much like how Washington DC residents have home rule under full federal control.

The Constitution grants Congress exclusive jurisdiction over the District in “all cases whatsoever.” Its elected government exists at its pleasure. Local laws can be overturned.

District residents have no voting representation in Congress. They’re disenfranchised in federal elections. They’re colonial subjects like Puerto Ricans.

The Caribbean island is bankrupt - but can’t declare it under US law, making it harder to gain concessions from creditors. It’s debt entrapped, forced to pay bankers and other large creditors at the expense of providing vital social services. Its $73 billion debt is impossible to repay.

In late June, Governor Alejandro Garcia Padilla said it needs restructuring. It’s approaching 100% of its GDP - its current fiscal year $4.5 billion servicing obligation is too great a burden to bear.

It’s a wasteland of high unemployment, poverty and deprivation. Force-fed austerity exacerbates dire economic conditions. Islanders are US citizens without enfranchisement on the mainland. They pay federal taxes. They get back pathetically little in return.

In June, the UN Committee of 24 (Special Committee on Decolonization) heard testimonies from 30 island petitioners. Puerto Rico is locked in a destructive cycle of poverty, unemployment, brain drain and economic decline because of US imperial control, they explained.

Petitioners urged UN intervention to initiate a decolonization process - to “stand on the right side of history” helping Puerto Ricans regain their sovereign rights.

Washington calls activist islanders “domestic terrorists.” Oscar Lopez Rivera is one of thousands wrongfully imprisoned for their political beliefs since 1898.

Puerto Rico’s 3.5 million people live in an open-air prison - exploited under imperial rule, heading toward hardening by greater forced austerity, hitting its majority impoverished population hardest.

Puerto Ricans suffer from internal government mismanagement, political greed and dereliction of duty, widespread corruption, deplorable social services, rich and powerful monied interests exploiting ordinary islanders, and police brutality like US citizens and residents face.

One local observer describes two Puerto Rico cultures. On the one hand, its “language, music, art, history and affection.” On the other, its “crime, corruption, deceit and entitlement.”

The latter is killing the former. It’s “dying a slow, painful death.” Puerto Rico is on a downward cycle to oblivion - ordinary people devastated by an uncaring US Congress, its own corrupt government and monied interests demanding tribute, a lethal economic combination.

-###-

Stephen Lendman lives in Chicago and can be reached at lendmanstephen@sbcglobal.net.

His new book as editor and contributor is titled "Flashpoint in Ukraine: How the US Drive for Hegemony Risks World War III".

http://www.claritypress.com/LendmanIII.html

Visit his blog site at sjlendman.blogspot.com.

Listen to cutting-edge discussions with distinguished guests on the Progressive Radio News Hour on the Progressive Radio Network.

It airs three times weekly: live on Sundays at 1PM Central time plus two prerecorded archived programs

No feedback yet

Voices

Voices

  • By David Swanson, World BEYOND War photo: wrp.org.uk Have you read “The Case for Military Intervention to Stop the Gaza Genocide“? I don’t mind promoting it to you, since I agree with most of it (and also consider most of it to do absolutely nothing to…
  • By Sally Dugman ...give up conforming to “group-think”... From my angle, a not entirely true assessment exists and here is excerpted from it, from Martin Armstrong’s article: The Domestic Civil Disturbance Quick Reaction Force The people have lost all…
  • © 2025 Tracy Turner From Reagan’s smile to Trump’s pill of control, America’s descent into the hybrid dystopia is no longer fiction—it is the spectacle we live, the sedation we swallow, the surveillance we obey. America in 2025 is Orwellian, Huxleyean,…
  • By Gabriel Aguirre, World BEYOND War The presence of more than 877 military bases around the world, with at least 76 of them in Latin America, together with the presence of the Fourth Fleet, constitute a real threat to peace and stability in the world…
  • By Mark Aurelius Three momentous words: cataclysm, catastrophe and apocalypse all in one title? How to deflate all this hyperbole (if it can be done)? Well, at least this is not blatant statement about a nuclear war? Although there could be that as well…
  • © 2025 Ted Wrong A raw confession of faith from the margins—where loyalty to Christ defies politics, church labels, and “types” of Christians. From the depths of the political and spiritual wilderness, I make a…
  • Katherine Smith PhD How land reform, privatizations of strategic minerals, and Israel's balancing act reveal the economics driving the war in Ukraine The Western media have oversimplified the war in Ukraine into morality drama theater: democracy vs.…
  • By David Swanson, World BEYOND War "Lord of the Flies is a story made up by a disturbed Nazi..." Did you know that the murders and rapes and free-for-all violent chaos in New Orleans during Hurricane Katrina didn’t actually happen, and that the…
  • By Sally Dugman It, I suppose, is really easy to denigrate and castigate Jews as a whole after watching them laughingly slaughter Palestinian civilians of all ages about which I wrote here: Red Light—Green Light And Other Games Played by Children And…
  • By Chris Spencer All empires need their scribes. Today's American experiment does not have meek diarists; it has court showmen, smiling graciously and recounting acts of power. From the coiffed late-night television news readers to the gilded columnists…
Censorship is not safety. It is authoritarianism in disguise. Bing is not just a search engine—it is an information gatekeeper. Click the red button to email MSN and Bing.com executives. This message challenges their censorship of ThePeoplesVoice.org and demands transparency, algorithmic fairness, and an end to suppression of free expression.
August 2025
Sun Mon Tue Wed Thu Fri Sat
 << <   > >>
          1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30
31            

  XML Feeds

CMS + user community
FAIR USE NOTICE: This site contains copyrighted articles and information about environmental, political, human rights, economic, democratic, scientific, and social justice issues, etc. This news and information is displayed without profit for educational purposes, in accordance with, Title 17 U.S.C. Section 107 of the US Copyright Law. Thepeoplesvoice.org is a non-advocacy internet web site, edited by non-affiliated U.S. citizens. editor
ozlu Sozler GereksizGercek Hava Durumu Firma Rehberi Hava Durumu Firma Rehberi E-okul Veli Firma Rehberi