The U.S. territory of Puerto Rico owes more than $70 billion—about $19,729.43 per resident—in debt to creditors and investors. First to note the territory’s fiscal problems were the credit rating agencies, which downgraded the territory’s bond status to “speculative,” the first of three steps along the junk-bond path to loan default.
Transit ridership is increasing in the United States. The American Public Transportation Association (APTA)has reported that 10.8 billion trips were taken on transit in 2014, the largest number since 1956. With a more than 80% increase in gasoline prices since 2004, higher transit ridership was to be expected. However, it would be wrong to suggest the transit ridership is anywhere near its historic peak, nor that the increases have been broadly spread around the nation.
In Scott Cleland’s recent piece titled, “Silicon Valley’s Biggest Internet Mistake,” he makes an important, too little addressed point: Were the FCC to classify Internet service as a “telecommunications” service under Title II of the Communications Act, this drastic step likely would have significant adverse international ramifications.