While some have suggested Washington can deliver a silver bullet solution to help Puerto Rico, the reality is that Puerto Rico’s leaders must lead and do the difficult but essential work of cutting spending, reining in out-of-control big government and eliminating job-killing policies, including scores of new tax increases. Allowing Puerto Rican municipalities to reorganize their debts under Chapter 9 of the U.S. Bankruptcy Code would not solve Puerto Rico’s problems and should only be a measure of last resort considered if Puerto Rico takes significant steps to fix its budget and economic mess. So far, Hillary Clinton’s liberal hosts in San Juan today have failed to propose any serious measures to fix Puerto Rico’s economic challenges.
While Puerto Rico’s recovery will rest on Puerto Rican leaders, the next U.S. president can make a positive contribution. By turning America away from the Obama agenda that Hillary Clinton would expand, and instead implementing my conservative agenda, we can create favorable conditions for a Puerto Rican renaissance as part of a new American economy in the 21st century.