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Why Trump may be right about Puerto Rico’s $72 billion debt

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By Robert Romano at NetRight Daily and Americans for Limited Government

“We are going to work something out. We have to look at their whole debt structure. They owe a lot of money to your friends on Wall Street. We’re going to have to wipe that out. That’s going to have to be — you know, you can say goodbye to that. I don’t know if it’s Goldman Sachs, but whoever it is, you can wave good-bye to that.”

That was President Donald Trump in an interview with Fox News, noting the obvious. Puerto Rico has been devastated by Hurricane Maria, and it is going to be extremely difficult for the U.S. territory to get on its feet financially to service its $72 billion of debt obligations.

While a full default remains unlikely, as for the debt restructuring, that is already provided for

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