Puerto Rico Might Start Cutting Pensions To Deal With Debt Crisis
[Daily Caller] Treasury Secretary Jack Lew said Monday pension cuts are on the table for Puerto Rico to help deal with the debt-ridden island’s fiscal woes.
The commonwealth - which faces a $70 billion debt burden and recently defaulted on a major payment - has been pushing Congress to extend it Chapter 9 bankruptcy rights. Puerto Rico Gov. Alejandro Garcia Padilla has said on numerous occasions he has ruled out cutting pensions as an option to pay its bills.
Posted by: Besoeker 2016-05-11