Successive Puerto Rican governments thought that the island’s economy was in “recession” and attempted to spur activity by increasing government spending. Low interest rates meant that deficits could be financed by floating bonds.
历届波多黎各政府都认为小岛经济陷入“衰退”并试图通过增加政府支出刺激活力。低利率意味着赤字要由不断增发的债券支持。债务日益累积，如今市场却几乎对新债券关上了大门。