Latest posts by Jesse Hathaway (see all)
- Sanders’ ‘Stop BEZOS Act’ Boosts Government — Not Workers’ Prosperity - November 1, 2018
- There’s No Time Like the Present for Tax Reform 2.0 - September 19, 2018
- Fan Ownership, Not Stadium Welfare, Would Be Best For Sports Fans and Taxpayers - April 24, 2018
In today’s edition of the Heartland Daily podcast, managing editor Jesse Hathaway and Heritage Foundation macroeconomics research fellow Salim Furth talk about the latest news from Puerto Rico’s slow-motion fiscal train wreck.
The territory barely scraped together enough money to pay its debts for December, but announced it will enter into default in January or March 2016. Now, some pundits are talking about how a taxpayer bailout of the Island of Enchantment is inevitable, and how taxpayers should just get ready to take it on the chin.
Furth disagrees with that kind of fatalism, saying bailing out the territory with taxpayer money will only incentivize bad government and bad policies, further hurting the people who live there. Instead, Furth explains why allowing Puerto Rico to default on its loans and restructure its debts is a better option for everyone, including Puerto Ricans both on the island and living abroad.