Add Puerto Rico’s debt crisis to the list of issues Donald Trump doesn’t understand
Because Puerto Rico apparently does not have enough to worry about, now we have to add the prospect of Donald Trump becoming President, and plausibly the one who has to deal with the crisis in the US territory. And it that happens, well, good luck Puerto Rico:
Trump is so busy here being defensive about his business record that he’s not understanding what the question is. He seems to think that Puerto Rico legally can file for bankruptcy and the problem is they haven’t done so, and that what they need is a smarter leader/negotiator at the helm who can clean up the balance sheet the way he would have in one of his real estate deals.
But the whole political issue is that a) Puerto Rico can’t do this, legally speaking, and b) the political party that Trump leads is blocking the Obama administration from changing the law. But Trump has no idea what’s going on and doesn’t seem to be listening to Blitzer’s questions.
Having stated that he would not bail out Puerto Rico, Trump’s position is still unclear, since he did not say whether he supports granting Puerto Rico access to Chapter 9 bankruptcy, or any other form of debt restructuring. Regardless, it seems as if for Puerto Rico to get debt restructuring, or even any sort of assistant from the federal government at all, it better hope Democrats win in November.