Good Faith cover image

Forgive Us Our Debts, with David Skeel

Good Faith

00:00

Puerto Rico's Debt Restructuring

Puerto Rico lost a lot of revenue because they lost a tax break starting from through a phase out from 1996 to 2006. Puerto Rico lawmakers plugged the holes in their budget not by reducing expenses and increasing taxes but by issuing debt. The island is very poor and has been poor for a long time it has a poverty rate of about 40%.

Transcript
Play full episode

The AI-powered Podcast Player

Save insights by tapping your headphones, chat with episodes, discover the best highlights - and more!
App store bannerPlay store banner
Get the app