Blog Feeds

Spirit of Contradiction

offsite link The Party and the Ballot Box Sun Jul 14, 2019 22:24 | Gavin Mendel-Gleason

offsite link On The Decline and Fall of The American Empire and Socialism Sat Jan 26, 2019 01:52 | S. Duncan

offsite link What is Dogmatism and Why Does It Matter? Wed Mar 21, 2018 08:10 | Sylvia Smith

offsite link The Case of Comrade Dallas Mon Mar 19, 2018 19:44 | Sylvia Smith

offsite link Review: Do Religions Evolve? Mon Aug 14, 2017 19:54 | Dara McHugh

Spirit of Contradiction >>

Public Inquiry
Interested in maladministration. Estd. 2005

offsite link Public Services Card: Some still forced to comply

offsite link Catholic Church: Dark influence still active Anthony

offsite link Tom Parlon launches new career in comedy Anthony

offsite link Presumption of innocence does not universally apply in Ireland Anthony

offsite link The poor standard of Irish political journalism Anthony

Public Inquiry >>

The Saker
A bird's eye view of the vineyard

offsite link Special Report: Putin Links Up With Xi, Give Permission to Open Gas Flow On New Pipeline! Sat Dec 14, 2019 18:42 | amarynth

offsite link United Kingdom: from the Brexit vote on June 23 (2016) to the general election on December 12 (2019) Fri Dec 13, 2019 23:14 | The Saker
By Paul Schmutz Schaller for The Saker Blog In June 2016, Brexit was accepted by 51.9% against 48.1%. This was a political sensation and a huge blow against the arrogance

offsite link Turkey Boosts Military Presence In Northeast Fri Dec 13, 2019 16:23 | Scott
Syrian War Report ? December 13, 2019: Turkey Boosts Military Presence In Northeast Members of al-Qaeda-linked Hayat Tahrir al-Sham repelled a Syrian Army attack on the area of al-Katibat al-Mahjura

offsite link Moveable Feast Cafe 2019/12/13 ? Open Thread Fri Dec 13, 2019 07:30 | Herb Swanson
2019/12/13 07:30:01Welcome to the ‘Moveable Feast Cafe’. The ‘Moveable Feast’ is an open thread where readers can post wide ranging observations, articles, rants, off topic and have animate discussions of

offsite link Hillary Clinton?s Six Foreign-Policy Catastrophes Thu Dec 12, 2019 01:56 | The Saker
by Eric Zuesse for The Saker Blog INTRODUCTION TO THIS UPDATED REPUBLICATION Though Hillary Clinton will, of course, be the direct topic here, we are now in the primaries-season for

The Saker >>

Judge Delays Ruling on Puerto Rico Debt Deal

category international | economics and finance | press release author Friday January 18, 2019 18:11author by Kate Zeller - Jubilee USA Network Report this post to the editors

White House Opposes Island's Food Assistance Funding

On Thursday, Judge Laura Taylor Swain delayed approval of a $17 billion debt deal between Puerto Rico "COFINA" creditors and the island's oversight board.

On Thursday, Judge Laura Taylor Swain delayed approval of a $17 billion debt deal between Puerto Rico "COFINA" creditors and the island's oversight board. Citing concerns that her ruling could alter Puerto Rico's constitution, the judge requested additional materials to review on Monday from the federally appointed oversight board.

"We are concerned that the plan under consideration doesn't cut enough debt," said Eric LeCompte who heads Jubilee USA and has monitored the island's financial situation since 2015. "I am worried that this type of plan will mean Puerto Rico will be trapped in an endless cycle of debt."

In court, opponents of the debt plan requested that Swain further delay any decision until the Internal Revenue Service can review the tax status of new bonds that are a part of the deal. The IRS can not currently assess the bonds because their doors are shuttered during the US Government partial shutdown.

Swain is also considering canceling another $6 billion of Puerto Rico's debt that the fiscal oversight board argues violated constitutional debt limits. 
"Puerto Rico debt from 2012 and 2014 bonds should be voided as the island had already exceeded it's legal debt limit," said LeCompte who serves on United Nation finance expert groups. "The island wrestles with a 60% child poverty rate and is still recovering from the hurricanes. Debt needs to be cut for both legal reasons and moral reasons."

As the Puerto Rico bankruptcy process continues, the government shutdown is slowing a budget decision on $600 million dollars in food aid for poor families in the US Territory. On Thursday, the White House wrote Congress opposing funding for Puerto Rico's Nutrition Assistance Program (NAP) that aids more than a million people on the island. The House of Representatives approved NAP funding in their version of the budget, now stalled during the shutdown.

"Access to food for poor families should not be used as a political bargaining chip in the budget shutdown negotiations," said LeCompte. "Puerto Rico is trapped in debt and rebuilding from hurricanes. Cutting food subsidies to the poor is just inhumane."

Related Link: http://www.jubileeusa.org
© 2001-2019 Independent Media Centre Ireland. Unless otherwise stated by the author, all content is free for non-commercial reuse, reprint, and rebroadcast, on the net and elsewhere. Opinions are those of the contributors and are not necessarily endorsed by Independent Media Centre Ireland. Disclaimer | Privacy