Political Quotes

“I appreciate the Senator raising the question. First of all, the Senator from Washington State is absolutely right that it is not a bailout. A bailout is when I give you money to pay your debts. That is a bailout. A pathway to restructuring is a way for you--in this case, Puerto Rico--to make yourself right with your creditors and find a way to do it in a way that still preserves the opportunity for essential services for the people of Puerto Rico, which is why the pathway to restructuring is so important, so it doesn't become a bailout at the end of the day. So it is necessary to have the clear pathway to restructuring so the government of Puerto Rico and its people will take care of its obligations, and we will restructure the debt in such a way that it will be responsible and they will take care of it. But in the absence of that, there are real questions as to what the United States is going to do for the 3.5 million U.S. citizens in Puerto Rico.”