The government has been reluctant to give Puerto Rico disaster loans, no doubt because that mean ‘ol Trump just hates poor Hispanics and is racist or something. Finally, reluctantly, the government agreed to a deal last week that would allow Puerto Rico to access the disaster loans:
The U.S. Treasury Department and storm-ravaged Puerto Rico say they have reached a deal to let the bankrupt U.S. territory access billions of dollars in long-disputed federal loans to help it recover from last year’s Hurricane Maria.
In a joint news conference on Thursday in San Juan, broadcast on the internet, Puerto Rico Governor Ricardo Rossello and U.S. Treasury Secretary Steven Mnuchin said the island can access the so-called community disaster loans (CDLs) as needed until March 2020, once its cash balance dwindles below $1.1 billion.
The agreement still needs approval by the federally-appointed board that oversees Puerto Rico’s finances, as well as the judge presiding over its $120 billion bankruptcy.
The U.S. Congress in October appropriated $4.9 billion in loans for Puerto Rico and the U.S. Virgin Islands, but while the Virgin Islands were allowed access to the funds – and have drawn down around $200 million so far – Puerto Rico was not.
Now why would the US Virgin Islands, which has a mostly black population, be allowed to access the disaster loans while Puerto Rico isn’t? Is it because Trump is racist against Hispanics but not racist against black people? I’m so confused!
The real reason the US government has been so reluctant to let Puerto Rico have the loans is because the Puerto Rican government is completely corrupt, and many of them should probably be in jail. As I have mentioned in the past, the state owned electricity company PREPA was busted by FEMA for stealing reconstruction supplies and Puerto Rico was also caught hiding billions away in banks while refusing to keep accurate financial records and pretending total destitution.
Washington is therefore understandably concerned that the Puerto Ricans may have additional hidden billions, and will also simply steal the aid money being sent there as well. To be honest, this is what I fully expect to happen.
The media is a major reason this kind of corruption is allowed to go unchecked, because they would rather push a cartoonish narrative that Trump is an evil racist, all the while allowing the Puerto Rican government to rob its citizens blind as they preside over the destruction of their own economy.