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Is PUERTO RICO an ASSET or a LIABILITY to the United States of America?.

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posted on Oct, 8 2017 @ 07:49 PM
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After Hurricane Maria severely damaged the island of Puerto Rico last month, there has been a resurgence in interest about the island's relationship with the United States.

I see some ATS threads, and recent news stories, indicating that Puerto Rico is more of a liability to the U.S. than it is an asset.

For example, from a May 2017 news article...

With its creditors at its heels and its coffers depleted, Puerto Rico sought what is essentially bankruptcy relief in federal court on Wednesday, the first time in history that an American state or territory had taken the extraordinary measure.

The action sent Puerto Rico, whose approximately $123 billion in debt and pension obligations far exceeds the $18 billion bankruptcy filed by Detroit in 2013, to uncharted ground.
SOURCE: www.nytimes.com...


On the other hand, we have this article, declaring that the USA receives more financial support from Puerto Rico, than it sends to Puerto Rico.

Thanks to the Jones Act, the prices paid by Puerto Rican consumers are roughly 20% higher than on the U.S. mainland.

20% of $35 billion (the annual consumer spending) is $7 billion. This is the amount of excess prices on goods paid every year, by Puerto Rican consumers.

85% (the percentage of goods that come from the US) of $7 billion is $5.95 billion.

So Puerto Ricans pay roughly $5.95 billion in annual excess profits to US corporations, thanks to the Jones Act. That amount exceeds the $4.6 billion in federal benefits that the US “gives” to Puerto Rico.

But wait, there’s more…

Source: waragainstallpuertoricans.com...

What is your opinion ATS? Is Puerto Rico a good commonwealth, which should become our 51st state? Or should it be spun-off, to exist on its own? Which one do you think average Puerto Rican citizens prefer??

-CareWeMust




edit on Sun Oct 8 2017 by DontTreadOnMe because: trimmed overly long quote IMPORTANT: Using Content From Other Websites on ATS




posted on Oct, 8 2017 @ 08:04 PM
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Trump is pushing to forgive all of Puerto Rico's debt, so by that great act of leadership it demonstrates they are as asset.



posted on Oct, 8 2017 @ 08:38 PM
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a reply to: carewemust

Neither. They are our responsibility. We bought that accountability in the 1800's because we wanted to colonize (navies and all that).

We owe them every thing we owe to ourselves because they bared the brunt and price long ago.



posted on Oct, 8 2017 @ 08:38 PM
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DOUBLE POOOOOOOOOST REPURPOSSSSSIIIIIINGGGGGG!!!!!
edit on 8-10-2017 by Abysha because: recycling a double post



posted on Oct, 8 2017 @ 08:43 PM
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a reply to: carewemust

Is the US's $20,000,000,000,000 in debt a liability to Puerto Rico?



posted on Oct, 8 2017 @ 08:46 PM
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a reply to: carewemust

The idea that you would look at the people of PR as an asset or not, is a bit disheartening.

They are U.S. citizens. They have been since 1917. 100 years. Please do a bit of research into that.


Based off of your logic, I think that perhaps we need to look at your house and determine if you and the loved ones who live there are assets, or not to the US.

Because if you are not...you know...we'll boot you. How does that feel?



posted on Oct, 8 2017 @ 09:01 PM
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They should be given statehood imo.

I say asset.



posted on Oct, 8 2017 @ 09:16 PM
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USPS postage rates to there and back are the same from your house to your neighbors.




posted on Oct, 8 2017 @ 09:37 PM
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a reply to: carewemust

Apparently the military thinks PR is an asset....

militarybases.com...



posted on Oct, 8 2017 @ 09:40 PM
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Definitely an asset. If for no other reason than its strategic geographical position.

It's in an excellent position as a forward staging point for any action that needs to be targeted at South America or Western Africa.

I recall there was a recent vote in Puerto Rico, and for the first time, the majority voted to become the US 51st state. Several previous votes were against statehood.

-dex



posted on Oct, 8 2017 @ 10:26 PM
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Other than disasters , compare Greece and the EU
That would be your answer.



posted on Oct, 8 2017 @ 10:49 PM
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One of the worst things we did was to close down Roosevelt Roads Naval Station, Ceiba, Puerto Rico, in 2004.
It was a strategic base in the cold war, and after. Thousands of jobs were lost as well as $millions in the local economy. In retrospect, Rosey Roads used the island of Vieques, right off shore, as a training facility as well. The people of VIeques fought for years to get the military off the island, but after Maria devastated PR and Vieques, these bases would have been a great asset in helping the recovery.



posted on Oct, 8 2017 @ 11:14 PM
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originally posted by: charlyv
One of the worst things we did was to close down Roosevelt Roads Naval Station, Ceiba, Puerto Rico, in 2004.
It was a strategic base in the cold war, and after. Thousands of jobs were lost as well as $millions in the local economy. In retrospect, Rosey Roads used the island of Vieques, right off shore, as a training facility as well. The people of VIeques fought for years to get the military off the island, but after Maria devastated PR and Vieques, these bases would have been a great asset in helping the recovery.


I thought there was a base there at one time. Seems like a place like Puerto Rico would be almost as important as Hawaii as a strategic operating base. Hawaii as the gateway to the Pacific and Puerto Rico as the gateway to the South Atlantic.

Not to mention the fact that Trump has been threatening Venezuela. Which is within spitting distance of PR.

It seems likely to me that closing the military base is at least partly responsible for the implosion of PR's economy. Leading to their bankruptcy filing.

-dex



posted on Oct, 8 2017 @ 11:22 PM
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Definitely an asset, consider it what we call Taiwan, our unsinkable aircraft carrier.

Adding it as the 51st State is a realistic probably and perhaps even within some of us lifetimes.

I mean, why not?

Find some way to pump back investments, or find a way to help settle debts, something to rebuild PR, think of it, a new high tech latin paradise, first world.
edit on 8-10-2017 by Arnie123 because: Furthermore...



posted on Oct, 8 2017 @ 11:34 PM
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originally posted by: loam
They should be given statehood imo.

I say asset.

I agree. However, if Puerto Rico became a State right now, it would have a higher population than at least 20 other current States (HERE). I think that's one of the major reasons why they won't become a State for the foreseeable future.

Not only would they add 2 more Senators to the Senate (which would change the political landscape), but the entire balance of the Electoral College & House of Representatives would be thrown off. I haven't done the math so perhaps the amounts wouldn't change much, but Connecticut (which has a similar population) has 7 Electoral College votes and 5 Representatives in the US House of Representatives. The amount of Representatives per State would have to be reshuffled since there can only be 435 US Representatives. I doubt that the smaller States would like their federal representation being decreased like that.



posted on Oct, 8 2017 @ 11:46 PM
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a reply to: carewemust

Many Puerto Ricans served in the US armed forces so they made a lot of sacrifices.



posted on Oct, 8 2017 @ 11:49 PM
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a reply to: Arnie123




Definitely an asset, consider it what we call Taiwan, our unsinkable aircraft carrier.

And Guam. Oh wait, Guam might capsize.



posted on Oct, 8 2017 @ 11:52 PM
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originally posted by: TinfoilTP
Trump is pushing to forgive all of Puerto Rico's debt, so by that great act of leadership it demonstrates they are as asset.


Thank-you TinfoilTP for that information. President Trump has great insight, from many years of global experience. If he sees Puerto Rico as an ASSET to the U.S., the next logical step is probably statehood don't cha think?



posted on Oct, 8 2017 @ 11:56 PM
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originally posted by: seasonal
a reply to: carewemust

Is the US's $20,000,000,000,000 in debt a liability to Puerto Rico?


That's a good question. I wonder how U.S. debt affects that commonwealth?



posted on Oct, 8 2017 @ 11:57 PM
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a reply to: carewemust

You know Trump can do nothing about Puerto Rico's debt, right?
You know Trump cannot make Puerto Rico a state, right?



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