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PR used to be a great place...until it became a welfare
Posted on: August 30, 2018 at 16:06:20 CT
Spanky KU
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state.
More than 60% of Puerto Ricans receive Medicare or Medicaid.
In 1970 15.1% of Puerto Rican families headed by a single person received means-tested cash transfers; in 1980 that figure was 52.4%, a rise of 247% in ten years.
In contrast, the share of black single-headed families who received public assistance increased only from 25.5 to 28.1% in that same timeframe.
Successive Puerto Rican governments thought that the island’s economy was in “recession” and attempted to spur activity by increasing government spending. Low interest rates meant that deficits could be financed by floating bonds. Debt mounted, and markets are now almost entirely closed to more.
More than 60% of Puerto Ricans receive Medicare or Medicaid.
In 1970 15.1% of Puerto Rican families headed by a single person received means-tested cash transfers; in 1980 that figure was 52.4%, a rise of 247% in ten years.
In contrast, the share of black single-headed families who received public assistance increased only from 25.5 to 28.1% in that same timeframe.
Successive Puerto Rican governments thought that the island’s economy was in “recession” and attempted to spur activity by increasing government spending. Low interest rates meant that deficits could be financed by floating bonds. Debt mounted, and markets are now almost entirely closed to more.
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PR used to be a great place...until it became a welfare - Spanky KU - 8/30 16:06:20
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