May 1 Puerto Rico' s government ran out of money on Monday and imposed a partial public-sector shutdown, putting nearly 100,000 people out of work and granting an unscheduled holiday to 500,000 public school students.The shutdown, the first in the history of the commonwealth, occurred despite last-minute efforts by members of the Legislature and Gov. Aníbal Acevedo-Vilá to agree on a bailout plan.The police and other emergency services were not affected, but dozens of public offices were closed or were operating on a limited basis. Puerto Rico has a $740 million budget shortfall because the Legislature and the governor have been unable to agree on a spending plan since 2004. Differing sales tax proposals have been presented that would allow the government to secure a line of credit to pay salaries through June 30, the end of the fiscal year. The island currently has no sales tax.All 1,600 public schools on the island closed on Monday, two weeks before the end of the academic year.
What is your opinion on the shutdown in Puerto Rico?
WOW, I was not aware of the entire story. Well certainly government will ask US to help, since technically they "own the island".
Reply:"Puerto Rico has a $740 million budget shortfall because the Legislature and the governor have been unable to agree on a spending plan since 2004."
Uhhhhh....they're stupid?
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