This article appeared online at TheNewAmerican.com on Thursday, June 30, 2016:
Since Senate Majority Leader Mitch McConnell said it, it must be true: The bill passed by the Senate on Wednesday to rescue Puerto Rico from its overwhelming financial troubles “won’t cost taxpayers a dime, not a dime.”
The president has said he would sign into law the dreadfully misnamed Puerto Rico Oversight, Management and Economic Stability Act (PROMESA) immediately and would then begin to nominate the seven members of the board to oversee its implementation. That board is to become effective on September 1.
That provides no help to Puerto Rico, which will default