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.
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.