A New Path For Puerto Rico–Which Doesn’t Include A Washington Bailout

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Here’s an alternative solution to the “radical” one the Obama administration is proposing for Puerto Rico. It is significantly more sane. Not too keen on the “public/private partnerships” though. That’s just code for sanctioned cronyism.

(From Forbes)

The new path I propose calls for three specific strategies: First, we must once and for all dismantle the current government apparatus that is costly and ineffective; second, we should simultaneously implement real and strong free market reforms that open up our economy and lead to robust growth and job creation; and third, a new independent mechanism should be created to manage the debt, based on a collaboration between the government of Puerto Rico and the Federal government, in order to restore investor confidence and allow the island’s government to regain access to the financial markets.

Click here for the article.