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Subject Trump rejects Puerto Rico Bailout they file for biggest US municipal bankruptcy US territory owes creditors $73 billion

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Original Message Trump Rejects Push to Help Solve Puerto Rico Debt Crisis

SAN JUAN, Puerto Rico — U.S. President Donald Trump said on Thursday that he is opposed to a push to help Puerto Rico resolve its $70 billion debt load as the U.S. territory faces looming austerity measures amid a deep economic crisis.

Puerto Rico files for biggest US municipal bankruptcy
US territory owes creditors $73 billion
Bankruptcy won't be an easy process. A judge still has to approve it. Many prominent Wall Street firms own Puerto Rico's bonds. They are angry about the bankruptcy filing because they fear now they won't get paid back all the money they are owed.

Puerto Rico's situation is ugly. The island has been in an economic recession for about a decade and the unemployment rate is 11.5%, meaning more than one in 10 adults can't find work.
[link to www.news4jax.com]

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