Puerto Rico files for biggest ever U.S. local government bankruptcy
I have lived all my life in Puerto Rico, and as you can imagine, this issue is quite controversial.
We owe money to the creditors... and what you do with a debt is to you pay it off.
Yet the amount is so staggering, that I wonder if it&#x27;s actually possible.<p>As is typical, decisions by politicians placed us in this situation.  Decade after decade, 4-year term after 4-year term, the government has spent money it does not have.  Be one political party or the other, it is the same thing.<p>There was a big manifestation this past Monday, where various Unions, groups, and students did a &quot;Paro Nacional&quot;.
Truthfully, I don&#x27;t think they accomplished anything, other than various idiots vandalizing property they don&#x27;t own.
We are in deep shit, and it&#x27;s going to get worse.<p>Lots of people are leaving the island, which just compounds the problem (less revenue).<p>I don&#x27;t leave because: it&#x27;s where I was born, where I have lived my entire life, and it is, honestly, paradise.<p>Obligatory John Oliver&#x27;s Puerto Rico segment: <a href="https:&#x2F;&#x2F;www.youtube.com&#x2F;watch?v=Tt-mpuR_QHQ" rel="nofollow">https:&#x2F;&#x2F;www.youtube.com&#x2F;watch?v=Tt-mpuR_QHQ</a><p>What will happen? 
I have no idea.
Good to see this in HN.