Hello Emily,
I am currently a student in your International Reporting class. I have this great story I’d like to share with you in hopes it will reach a greater audience. The ongoing Puerto Rican debt crisis is a situation I feel hasn’t gotten the attention it deserves lately. Puerto Rico has long been a common wealth of the United States and it would goes without saying that the more than $70 billion in debt will have negative ramifications on many.
Simply put, the Government of Puerto Rico cannot pay what it owes and its economy is suffering. The once calming image of tropical beaches and clear water has now be soiled by the fact that many business can’t afford to keep their doors open.
So how does this impact the United States?
- One concern is the U.S. financial system. Many Americans have investments through Puerto Rico’s municipal bonds. Municipal bonds makes up a large portion of Puerto Rico’s debt.Which means many Americans have a significant portion of their savings in government debt that might not be repaid.
- Puerto Ricans are leaving the island in record numbers for the United States. Unemployment and quality of life are cited as some of the major factors in their decision to leave. In 2014 alone, 84,000 people left the commonwealth in hopes for better opportunities.
My story will go into the details and cover the important questions. How did it get to this point? What are the proposed solutions? What does the Trump administration plan to do? I will also contact and conduct interviews with the many puerto ricans who have left the island for their reactions. This will include getting in touch with financial analyst and bloggers/journalist for their first hand take on the crisis.
Thank you for your time and consideration for this proposal.
Best,
Peter Rodriguez