View Single Post
  #44  
Old 04-25-2016, 02:47 PM
campbell's Avatar
campbell campbell is offline
Mary Pat Campbell
SOA AAA
 
Join Date: Nov 2003
Location: NY
Studying for duolingo and coursera
Favorite beer: Murphy's Irish Stout
Posts: 84,617
Blog Entries: 6
Default

http://www.nationalreview.com/articl...utm_term=NR5PM

Quote:
Four sets of reforms are needed to address the island’s problems. First: Bankruptcy protection should be enacted, to ensure that creditors rather than taxpayers take the hit from the island’s insolvency. This is not ideal, since it involves retroactively changing the rules on creditors. But most major changes in bankruptcy law have had retroactive application; this change is needed because of a hole in the old law; and it is better than the likely alternative of taxpayer exposure.

Second: The island needs fiscal reform to prevent a recurrence. That should include cuts in public-employee pensions. Third: The island needs to change its anti-growth policies. Its labor laws should be less restrictive, and many of its public enterprises privatized. Fourth: Federal policies that hobble the island should end. The federal minimum wage is too high for Puerto Rico, and the protectionist Jones Act governing cargo shipments raises costs.

__________________
It's STUMP

LinkedIn Profile
Reply With Quote
 
Page generated in 0.16523 seconds with 9 queries