RTSPUB12 Sep. 2015; San Juan, Puerto Rico A member of a labor union shouts slogans while holding a Puerto Rico flag during a protest in San Juan September 11, 2015. Thousands of public sector workers demonstrated on Friday against an austerity plan to help pull Puerto Rico out of a massive debt crisis, saying the private sector should take more of the pain. The island's government is calling for shared sacrifice, and concessions from citizens and investors alike, as it tries to lift itself out of a $72 billion debt hole. REUTERS/Alvin Baez


The help that Puerto Rico needs

October 27, 2015, Peter R. Orszag

In a Bloomberg View op-ed, Peter Orszag gives an assessment of the Obama Administration's proposal for dealing with the sovereign debt of Puerto Rico. Orszag notes the administrations desire to extend the Earned Income Tax Credit (EITC) to Puerto Ricans and resolve to have Medicaid treat the country the same as the 50 states, as well as extending bankruptcy protections to territories of the U.S. government (among other policies).