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Did Obama Just Sneak A $73 Billion Bailout Through Congress?

MickeyW

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Americans and the media were consumed with the latest developments in the presidential election.

It was the perfect time for Paul Ryan and Barack Obama to collaborate on another Big Government scheme.

With no one paying attention, Obama and Ryan worked together to ram a $73 billion bailout of Puerto Rico through the House of Representatives.
Did Obama Just Sneak A $73 Billion Bailout Through Congress? – Conservative Revival
 

Redress

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Because publicly, in plain sight, is sneaking...
 

Beaudreaux

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Because publicly, in plain sight, is sneaking...

Far left or far right, they both have a lot in common, such as - Never miss an opportunity to blame other people, trivialize the momentous, and complicate the obvious.
 

CrabCake

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Americans and the media were consumed with the latest developments in the presidential election.

It was the perfect time for Paul Ryan and Barack Obama to collaborate on another Big Government scheme.

With no one paying attention, Obama and Ryan worked together to ram a $73 billion bailout of Puerto Rico through the House of Representatives.
Did Obama Just Sneak A $73 Billion Bailout Through Congress? – Conservative Revival

Some of the ways in which this post and the accompanying article are misleading:

1. This has been covered extensively in the media. It's even been discussed on prime time news entertainment programs like "Last Week Tonight". The debate over this has been going on publicly for months. Therefore, calling it "sneaky" or "with no one paying attention" is a lie. If you hadn't heard about this, it shows how little attention you pay to the news, because this has been covered extensively.

2. The legislation does not involve the federal government paying off any of the debt, giving Puerto Rico any money, or any other such action which might be termed "bailing out". It involves the creation of a control board with legal authority to restructure Puerto Rico's debt. There is no honest definition of the term "bail out" which would cover this law. In fact, if there's any term that might be applied to this bill, it would probably be "bankruptcy" rather than "bail out". One could honestly describe the bill as a "framework for providing bankruptcy to Puerto Rico".

3. It can't be a road map for states to follow because states don't need it. The only reason that Puerto Rico needs this law is because it does not have access to bankruptcy protection like the states do. This solution is worse than what is already available to states through the bankruptcy system.

So, all in all....this OP and the article that it links to are completely dishonest (or misinformed).
 

Van Basten

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PR deserves a bailout.

Far left or far right, they both have a lot in common, such as - Never miss an opportunity to blame other people, trivialize the momentous, and complicate the obvious.

Preach!
 

Mycroft

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Some Trump honks would likely respond with this:


trump-lion.jpg
 

blaxshep

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Democrats will use this bill as a roadmap to pass legislation to bail-out states drowning in debt run up by public employee union pension schemes.

Forbes reports that the total unfunded pension debt in all the states adds up to over $3 trillion dollars.


Nailed it!
 
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