
It’s not like Harry Reid would make stuff up.
Via Washington Examiner:
Senate Minority Leader Harry Reid, D-Nev., demanded that Republican leadership take up legislation to alleviate Puerto Rico’s debt crisis before the 3.5 million Americans in the U.S. territory suffer a “humanitarian crisis.”
“I was told that in the island of Puerto Rico there’s a shortage of suitcases, luggage, because people are leaving that little country,” Reid said from the Senate floor on Thursday. “Most of them are coming to Florida. They’re desperate. Many have said that the dire state of Puerto Rico’s economy could become a humanitarian crisis.”
Puerto Rico owes $73 billion in debt that federal law prevents the local and territorial government from discharging through bankruptcy. Negotiations about repaying the bondholders have stalled as Puerto Rico’s government hopes that Congress will pass legislation changing that law, but it’s a thorny problem for lawmakers concerned about setting a precedent for future state-level debt crises.
