Political Quotes

“I rise today to be a voice for the 3\1/2\ million citizens living on the island of Puerto Rico. I rise so their concerns for themselves, their families, and their livelihoods will be heard--to ask that we improve House-passed legislation known as PROMESA. The word ``promesa'' in English would mean ``promise,'' but the only thing the House bill promises the people of Puerto Rico is years of subjugation at the hands of an anti-democratic control board. All of us in this Senate will soon be faced with an immediate and serious choice, one which will have profound consequences on the people of Puerto Rico for a generation. I have said from the beginning, in terms of the challenge Puerto Rico has--a $70 billion debt; pays one- third of every dollar it receives toward paying interest, which is unsustainable for them and unsustainable for any governmental entity that would face that challenge; made tough, horrible decisions--closed schools, closed hospitals, reduced public safety--and still cannot meet the challenge. They need a clear path to restructuring. That is not a bailout. A bailout is when somebody has a debt, you bring them the money and say, OK, we are going take care of your debt, but that is not the case. Restructuring is about taking the debt you have and giving the wherewithal for that debt to be restructured in a way that is both sustainable and can take care of the obligations therein. It needs an oversight board that represents the people, the U.S.…”