Category Archives: Puerto Rico economic crisis

Fee cut to lure cruise lines to lay up ships in Puerto Rico ports

Fee cut to lure cruise lines to lay up ships in Puerto Rico ports By José Alvarado Vega on September 25, 2020 Another Covid-19 lockdown ‘would be the end of tourist activity,’ says president of Puerto Rico Hotel & Tourism … Continue reading

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Fiscal Board sends Property Tax Recommendations to Puerto Rico government. If PR property taxes go up, real estate values will go down

This is basic economics.  If it costs more with higher property taxes to own a property, property will become less valuable, and property values will go down.  It remains to be seen if the PR government will reform the current … Continue reading

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Puerto Rico Governor Seeks Referendum on Pension Payments

When your expenditures are greater than your sales tax revenues, one must show leadership in making the difficult spending cuts.  It is not sustainable to spend more money than you have over long time periods, whether as an individual, company, … Continue reading

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Puerto Rico announces referendum to protect public pensions

Past Puerto Rico politicians bankrupted Puerto Rico by borrowing too much money, as a sign of incompetence and mismanagement.  Now the citizens suffer.   Hard choices must be made to reduce the size of government, reduce entitlements, aka “free stuff.” https://abcnews.go.com/International/wireStory/puerto-rico-announces-referendum-protect-public-pensions-71880845Continue reading

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The goal of the Fiscal Oversight Board is a new government culture to root out corruption and cronyism, to create an environment that generates jobs instead of making people dependent on welfare, to practice financial discipline instead of overspending

  https://www.elnuevodia.com/english/english/nota/thegoalisanewgovernmentculture-2579499 The goal is a new government culture The chairman of the Oversight Board José Carrión III and also member Carlos García have announced their resignations after the Supreme Court ruled appointments to the Board are constitutional, and just … Continue reading

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Puerto Rico board approves $10B budget as resignations loom on federal control board

Two board members on the Federal Control Board resign, likely in disappointment, disgust, and disillusionment at Puerto Rican officials’ unrealistic, unsustainable spending patterns, and lack of the Puerto Rican government making necessary structural changes such as laying off excess government … Continue reading

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Puerto Rico oversight board chairman, member departing

Mr. Carrion said his chief disappointment is “the lack of commitment and political will to implement structural reforms necessary to propel Puerto Rico’s economy beyond its dependency on federal transfers.” What that means is that Puerto Rican politicians don’t want … Continue reading

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Job creation must be a priority in Puerto Rico, not pushing more people onto welfare to make them dependent instead of independent

https://www.elnuevodia.com/english/english/nota/jobcreationmustbeapriority-2578479 Job creation must be a priority Due to the pandemic, the island has the second-highest unemployment rate among U.S. jurisdictions Saturday, June 27, 2020 – 9:47 AM By ELNUEVODIA.COM   To reactivate the economy after the crisis the COVID-19 … Continue reading

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FOMB: Incentivised-retirement bill is inconsistent with fiscal plan

Puerto Rico has way too many government workers relative to the size of the overall population in PR.  The difficult decision must be made to rightsize and reduce the employment levels. FOMB: Incentivised-retirement bill is inconsistent with fiscal plan FOMB: … Continue reading

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Are you angry at corruption by Puerto Rican politicians? Now you can donate online to an organization formed to combat corruption, dishonesty, incompetence, and mismanagement by government officials in Puerto Rico

A new organization was formed to fight dishonesty in Puerto Rico’s government, by filing lawsuits.  I don’t know why it took so many years for someone to come up with this great idea, as the average Puerto Rican has been … Continue reading

Posted in +best, most popular posts about Puerto Rico, corruption, culture and cycle of dependency, incompetence and mismanagement, Puerto Rico economic crisis, Puerto Rico necessary improvements, Puerto Rico politics and government, Puerto Rico Puerto Rican unprofessionalism makes it difficult to conduct business | Tagged , , , , , , , , , , , , , , | Leave a comment