Puerto Rico defaults; US to follow

Federal Government Faces Similar Fate

Puerto Rico’s default yesterday is a result of well meaning politicians promising more “free” stuff to voters than the taxpayers were willing or able to pay for.  Now the Federal government is being called upon to find a solution and that means taxes are going up, which will further shrink the economy. Unfortunately, what most people don’t realize is that a similar fate awaits the whole of the U.S.

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Mike Maloney