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Obama Administration Draws Up Plan to Help Puerto Rico With Debt
The New York Times: The Obama administration has decided to take a political gamble on Puerto Rico, stopping short of a direct bailout of the debt-ridden island but proposing measures that backers say would keep the commonwealth from becoming America’s Greece.
Senior administration officials said the island had already run out of cash and was spending around 40 percent of its tax revenue meeting its bond payments.
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