Econ Comments & Analysis
AEI | Absent major changes, Puerto Rico faces a fiscal calamity
As U.S. officials and private investors become more concerned about the financial fate of Puerto Rico after nearly a decade of economic decline, attention has turned to an $8.5 billion bank, which may be the key to whether this island of 3.7 million people flourishes or self-destructs.
Blogs
WSJ | Top Illinois Lawmakers Shrug as Moody’s Warns of Troubled Finances
The Land of Lincoln already has the lowest bond rating among U.S. states. But Moody’s Investors Service is raising new concerns after state legislators passed a budget last week letting tax revenues fall, while doing little to cut costs. The ratings firm estimates the state will see a $1.8 billion, or 4.7%, drop in tax revenues in the fiscal year starting July 1 and respond by letting a backlog of unpaid bills balloon further.
