The stormy debt crisis crashing around the paradise of Puerto Rico perfectly illustrates the consequences of that territory’s systemic fiscal irresponsibility according to Luis Fortuño. The former Governor of Puerto Rico explains that “bottom line, you can never tax yourself out of a hole.”
On Federalist Radio, the retired pro-growth executive explains how the territory got itself into its current mess and what lessons the United States ought learn from its protectorate.
“Fiscal conservative policies work,” he notes. “The opposite does not…that brings about collective despair, unemployment, and bankruptcy.”
Later in the program Cate Long, founder of Puerto Rico Clearinghouse, joins Ben and the governor to report in-depth on the current state of the commonwealth’s finances.
Click here to listen, or use the embedded link below.