Trump: Wipe Out Puerto Rico Debt

Target: Donald Trump, President of the United States

Goal: Follow through with your claim that Puerto Rico’s debt will need to be wiped out.

U.S. President Donald Trump recently surprised a Fox News host by stating Puerto Rico’s debt will need to be wiped out. “They owe a lot of money to your friends on Wall Street and we’re going to have to wipe that out. You’re going to say goodbye to that, I don’t know if it’s Goldman Sachs, but whoever it is you can wave goodbye to that,” Trump said.

Since then, administration officials have sought to downplay the remark, with Office of Management and Budget Director Mick Mulvaney claiming, “Puerto Rico’s going to have to figure out how to fix the errors that it’s made for the last generation on its own finances.”

However, advocates of debt relief for the island argue Trump should follow through with his original claim. They argue Puerto Rico cannot recover from the recent hurricane without relief from its $74-billion debt. According to economist Mark Weisbrot from the Center for Economic and Policy Research, “If Puerto Rico is to have a future, it will need a whole new economic plan that allows it to recover… This would include, at a minimum, the cancellation of most of its debt, which is not going to be paid in any case.”

If you agree Trump should follow through and cancel Puerto Rico’s debt, sign this petition.

PETITION LETTER

Dear President Trump,

You recently stated that “we’re going to have to wipe” Puerto Rico’s massive $74-billion debt. Your administration has since tried to shy away from your remarks, but we totally agree with your original comments. You should stand by your word, and wipe out Puerto Rico’s debt.

After all, Puerto Rico is the victim of hedge funds who swooped in to buy up the island’s debt while it was cheap. These same funds are now lobbying to force the island to be squeezed of every last cent. So while Wall Street is profiting, ordinary Puerto Ricans are suffering.

So for once, you actually said something that makes sense. Puerto Rico needs debt relief, and you need to do what you said you’d do: cancel the island’s debt.

Sincerely,

[Your Name Here]

Photo Credit: Arturo de La Barrera

Sign the Petition

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3 Comments

  1. This absolutely ridiculous! Puerto Rico is part of the USA! NO DEBT CHARGE AT ALL!

  2. Trump need to pay his debt to Puerto Rico. This would help their debt.

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