What We Can Learn From Puerto Rico's Debt Crisis

[@coolcat5798]

The man cut his own salary respect

[@f.c.laukhard3623]

That's the advantage of somebody with skills that are also usable outside of politics. They do not have to care about getting out the most money, they are not dependent on sucking up to their own party in order to keep lucrative jobs within the party etc.

[@RinoaL]

"Raise my taxes" theres nothing stopping you from donating.

[@goatskin4487]

They meant raise my taxes instead of firing me.

[@startek119]

Ehhh I’m subscribed to you and had no idea you watched Stosssl. Awesome. Loved your rocket engine vids.

[@billmelater6470]

@@goatskin4487 You can't just raise the taxes of a specific subset of workers. The only thing you can do is cut the pay or cut the job. Government jobs come at the expense of the taxpayer. THEY may have wanted their taxes raised, but such an action would have come down on EVERYONE.

[@kermitdafrog8]

He was saying they could always pay extra taxes individually. Nothing stops people from paying more taxes than owed. Anyone can over pay taxes. And when you file you can always give your refund back to something instead of expecting everyone else to pay more.

[@ophello]

“A few who do make cunts!”

[@AE-vu3nt]

Governor Fortuño was the best thing that happened to us in over 60 years and the ungrateful puertorricans kicked him out.

[@kathryncastanares525]

So so sad. They're all going to regret it.

[@looper451]

A E How has your home faired under the new government compared to Fortuno? Im very interested in foreign politics, being from Canada l dont get much insight into south american politics

[@evanw2195]

Buddyyouwantoutside Puerto Rico is American territory

[@evanw2195]

Buddyyouwantoutside everyone in Puerto Rico is actually American citizens, I flew there from Florida this February no passport needed

[@jamesgavin6171]

This is sometimes why Democracy is a failing system. Dumb people elect smart people to do stupid shit.

[@yonikatz1395]

WTF I love this guy now, favorite governor 😎👌👍

[@samramos310]

I'm from Puerto Rico and it's incredible how people vilified Fortuño, I was young when he was governor and never gave him much more thought until I saw this video about 2 weeks ago on another channel It's a real eye opener

[@Ben_not_10]

It’s sad he’s no longer governor

[@thecwd8919]

Actually helpful politician. Don’t see many of those these days

[@thecwd8919]

The first politician to work out of their heart. Never mind, He’s the first to even have a heart

[@nbrosna1]

This guy is amazing. We need more like him.

[@27TheJose]

free market baby. the government just messes everything up

[@tylerdurden788]

Free market needs regulation too. How many corners would businesses cut if they could? Balance.

[@josephupton3601]

@@tylerdurden788 businesses don't want to chase away their customersif they do something wrong you will report them to channel 6 but government can do whatever it wants whenever it wants

[@jeremymenchaca]

@@tylerdurden788 the free market will decide which businesses prosper and which ones crumble.

[@hahaclintondix2815]

Finally, a politician who is willing to put the country (i know puerto rico isn’t a sovereign country) over his own popularity.

[@TEverettReynolds]

That's because, in his own words, he is not a politician... he is a businessman, who does not care about what the people will "like", he cares about what PR needs to survive...

[@jediknight38]

So the past Govs screw up P.R.'s economy and left the present guy with the mess. This is why whenever I go to any party, I make it a point to not be the very last one to leave.

[@rrdevries100]

Luis Fortuno - Please become the Governor of California!

[@averageborincano9691]

God no. He got Puerto Rico in actual bankruptcy

[@adrianafamilymember6427]

@@averageborincano9691 you're an absolute fool

[@averageborincano9691]

@@adrianafamilymember6427 Ok, PNP

[@Bambihunter1971]

@@averageborincano9691 It would have happened anyway. Likely like CA will experience at their current trend.

[@jnhook8086]

'We had to handle it like it was our own money' And everybody loses their crap

[@intelcom4964]

Wow What a governor

[@raulcruz6601]

What a turncoat

[@johnhasse3995]

Consider also New Zealand in the 1980's. They were ALMOST bankrupt, but managed to re-organize.

[@omarsanchez7599]

Wow so many people were dependent on the government. And this guy really was doing this all for their own good, but like a bunch of ignorant kids they just didn’t know it. I do hope in the future these people look back and agree it was for the best.

[@daibangx8696]

Listen to a person with big heart and passion is always refreshing

[@rileyswaim9015]

Chris Christie needed to shrink more than the NJ govt 😂

[@Bklyn2SoCal]

@uh wot & Riley Swaim are like Beavis & Butthead. How old are you 2 clowns? That's what you got out of this video & chose to contribute, f'n brilliant.

[@khatdubell]

Its amazing to see someone cut government. Hopefully we can do that here one day.

[@kdbublitz88]

They are acting like whining screaming children when you take away the TV because it's time for bed.

[@kenyongray2615]

John has the ability when doing an interview to ask questions about both sides of an issue. It keeps the interviewee off guard. One moment they think John is on their side then comes an opposing question. Been following John for over 50 years since he was a local news correspondent on a local news channel in NYC.

[@saheliumd7182]

When life gives you lemons, make marmalade?

[@henryc1000]

There may be hope for Puerto Rico after all!!!

[@GreatBigRanz]

This was aired in January, Five months later PR fired for bankruptcy. www.bloomberg.com/graphics/2017-puerto-rico-debt-crisis/

[@DarthRadical]

@@GreatBigRanz This was from years ago - he was voted out the better part of a decade ago.

[@MrMr-hc4ut]

Super relevant right now

[@flamingstallion]

I live in Delaware and I find it hard to believe Delaware was ever the most business-friendly state

[@hint0122]

How many companies are incorporated in Delaware?

[@ashleyserene6846]

Soooo impressed with people like this who are strong and principled enough to do the right thing in the face of such withering vitriol. What an impressive man. I didn’t know about him. I see from comments that he wasn’t re-elected. What a shame.

[@charcounsel4432]

Are there really stupid people standing around yelling raise their taxes?!?!? How freaking stupid can they be???

[@bornfree8073]

They're democrats. So it's not necessarily stupid but just ignorant and childish

[@josephlange3825]

Please come to California... We need you!

[@thomasswedlund1097]

After living for 8 years in Latin America allow me to say that the childish fiscal irresponsibility that we have here in America is much worse there.

[@rkba4923]

KEY at 1:15-1:17: "... because it WASN'T THEIR MONEY, IT WAS THE TAXPAYER'S MONEY"! We'll never get control of our government til we change this fact.

[@JesusGodHolySpirit3]

THANK YOU LUIS FORTUNO FOR DOING WHAT IS RIGHT! We in the states need to do this!!!

[@jojobaggett6156]

We need this guy in America today

[@LMleet06]

Grats on 16k John!

[@sandydegener6436]

"What can we learn from Puerto Rico's debt crisis?" "Don't live in Puerto Rico."

[@kennethflores93]

Sandy Degener you have to see the lines that develop at 6 AM to do banking transactions at banks, looks like something out of a movie. If you look at the health clinics it’s the same thing too!

[@sandydegener6436]

@@kennethflores93 , don't ya just LOVE progressive governments?!

[@kennethflores93]

Sandy Degener I mean from what I’ve seen there the problem stems from an autonomous or what appears to be an autonomous feudal like group pillaging the treasury with impunity. The constant meddling in the citadel continues to produce corruption that would be funny if it were only a cartoon but the crazy part is that this is the political reality.

[@sandydegener6436]

@@kennethflores93 , despite all the modern sources of information, the "Boriquas" still vote for the same "argolla". They really ARE 3rd worlders.

[@THX-bz8bi]

Whats your solution? Please explian Becuase your comment is confusing

[@LibertarianUSA1982]

Make Puerto Rico its own country. No more welfare colonies

[@raulcruz6601]

Nothing is free. Welfare is really rent for using their land to make billions that never returned to the island. Washington is no Santa Claus just a fat parasite

[@popbasketball1696]

Statehood is best for the citizens of the Puerto Rican.

[@aaronchristensen8333]

Either that or give puerto rico statehood so it can take care of it's self.

[@IsraelLuisGeerRivera-ff4cg]

LibertarianUSA1982 give us statehood

[@IsraelLuisGeerRivera-ff4cg]

Tiefkühlen really Puerto Rico doesn’t produce its own food. Make it a state and destroy corruption. Puerto Rico is almost a state but doesn’t have all the administrative benefits.

[@Matt_Dagostino]

Opening a business in the US - *5 Years later, application gets denied* Opening a business in China - Same day, "Tank you sir, have a nice day"

[@cuddlemuffin.9545]

Hong Kong*

[@TakeDetour]

This is an amazing Governor!

[@firefox30570]

How did that guy get that position? I tought its not possible for sane reasonable ppl to get elected

[@dealerofdeth]

This guy needs to be POTUS!

[@CodyHazelleMusic]

"What do you mean you don't need this job?" "I come from the private sector. I enjoy that. I can go back to what I was doing." He sounds a lot like Trump.

[@zachb1706]

I love people who say tromp dors it for money... like he hasn’t lost millions campaigning

[@rawhiderandy]

US needs to learn from this guy!

[@realidade_mundial2805]

this governor is a hero!

[@Deep-Travel]

While I agree with Fortuño that most of his changes needed to be made, I have two observations: (1) when the photos of 3 governors whom the reportage blame for the increase the debt it only show the 3 that belong to the PPD and fail to show 2 that belong to the Governor party, the PNP, For example, Pedro Rosselló whose under his administration many department secretary and high official went to jail for stealing federal money as well as having increased the debt the most. (2) I noticed that when the Governor Fortuño mentions how he is helping businesses he never mentions small businesses, only American corporations which are considered foreign corporations in PR.

[@johnbrown6769]

Did you not see the lady with her home based business? Multiply that by many times over.Also, just reducing the onerous regulations was a good thing. Too bad he was voted out.I suspect the bureaucracies have grown back since then.

[@triclopsgamer5934]

Its funny that the putting someone from the private sector into an official office would be the best way to reduce bureaucratic corruption.

[@startek119]

Damn he lost reelection

[@briannguyen2867]

Bravo! Great respect for him.

[@carlosrosario7556]

iF YOU TELL THE TRUTH , YOU GET IN TROUBLE HURRA FOR FORTUNO

[@brandonmusser3119]

Wish it was that easy as ripping off a Band-Aid Trump's finding it hard right now

[@brandonmusser3119]

Jesus Christ first of all you shouldn't be using that handle second of all protectionism isn't good for anyone but the people is protecting I don't vote for it but in this case I say go all out time to bring China to heal

[@tnebula2100]

This man needs to run for president!

[@honeyhivefarms5739]

Nice job John... Liked the story

[@hoyola1]

Still to this day there's not even one candidate that dares to talk about cutting the payroll expense and there's no more loans to pay it. The community services are beign affected because they don't want to cut. They impose high taxes and still people vote for them.

[@hoapham3543]

Very good and funny videos bring a great sense of entertainment!

[@ZeusAndKiller]

"I don't need this jib, i do it because i want to do it!" THATS HOW ALL POLITICIANS SHOULD THINK! They shouldnt be there because they cant do anything else and they just want to get rich from kickbacks, they should have a real passion for solving real problems like this guy

[@rivalino]

Yeah, but good luck finding that. Weak men sneak into positions of power, because its easier to steal money from taxpayers than to create value out of thing air. People like Luis Fortuño are rare compared to all those fucking leeches, screwing the populace.

[@carriecochenour1690]

Wow what a great leader.

[@abrenos3744]

he's a real Alpha-Male he takes them all on at once, Mad respect!

[@TEverettReynolds]

Wait! @1:00 How does 1 out of 3 work for the state? How is that possible? 33%?

[@denniscarroll3164]

Less people in your way is ALWAYS better. What the hell is wrong with people?

[@tsipher]

so by cutting Government jobs, spending, and taxes, the Governor of Puerto Rico has created more opportunity for it's citizens? SHOCK! who knew that less Government meant more success for citizens?!

[@Maletaandgo]

I am from Puerto Rico. Yes, he did all this, but unfortunately he did a few wrong turns. Overall he was good, but the bad things resonated more and he lost the re-election.

[@nethajranaweera9910]

You sir should run for the presidency someday... if the constitution allows that.

[@ianmvp1]

Nethaj Ranaweera why not? He is a American born in Puerto Rico, there is no difference between a individual born in PR to the one born in DC.

[@triclopsgamer5934]

We should bring this man to the White House.

[@jacobmerrill7382]

omg this man is a legend. why the frick hasn't he been talked about more?

[@kinito992]

He's pretty hated back in the island so he disappeared from the public eye and went back to the private sector after his term. I actually agreed with the "Ley 7" when it happened, but I never saw him as a champion of free market.

[@hausgbear8284]

The right thing isn't always the popular thing.

[@Boodieman72]

Politicians care too much about polls and not enough about doing the right thing.

[@detroitlady7201]

Do what's right! What a novel concept!

[@GreatBigRanz]

Puerto Rico filed for Bankruptcy on May 3rd.

[@franciscamolina6374]

GreatBigRanz... Puerto Rico can't file bankruptcy

[@firmuspiett_gcw5691]

I was hoping he’d say “Straight to Jail”

[@Spetsop]

The vast majority of government employees are completely unnecessary and utterly redundant! They don't even know what the next person is doing half the time even though they work for the same boss! No communication, one will say yes another will say and third will just push it down the line to the next one, and things take AGES to get done, IF they even get done!

[@mojopare8954]

Shrink the state - same problem everywhere - The strength of the bureaucracy is in proportion to the height of th pile of paper on which it stands. Burn that pile.

[@breadonitsown8950]

Thatcher was the same - elected in 1979, despised and facing riots in 1981, re-elected by landslide in 1983.

[@crazando]

an amazing man

[@jeremywestern7067]

USA owes $22 trillion... uk owes £2.2 trillion... and rising. When’s this gonna hit the fan?

[@perugino25]

we need a president like him...build the wall!!!

[@phrankie_lewpehz]

I was sad when he didn't get reelected

[@daviddavis5689]

The only lesson is corrupt politicians corrupt the whole society.

[@db5202]

If the US took every dime from all the billionaires and millionaires they wouldn't have anything left in 3 months. The answer isn't raising the taxes on the rich but reducing spending. We all have to live within our budget, so must any government.

[@XX-rr6lg]

He should lecture uncle Bernie.

[@alexanderchenf1]

Let me be his bodyguard! Cut those government leeches to their bones!

[@colttodd522]

never let a Spaniard or Italian run a checkbook .

[@davidmdyer838]

All the businesses mentioned are from the mainland. All their profits leave the island. Walmarts and Walgreens are not good for PRs economy. He was the governor that got Puerto Rico so badly into debt, I don't know why Stossel admires him so much. Now the debt is blamed on the next administration.

[@martykroenecke4273]

A good union man comment

[@howardking3046]

I remember when I checked out of the army that I had to go through a maze of women sitting in a large room behind dozens and dozens of large desks knitting and gabbing. After being sent from desk to desk to get my papers stamped I finally had their permission to leave. I never forgot that day. What a joke! Except to the American taxpayers who had to show up every day to make a living for their families and these leaches.

[@jackiechan511]

Watch HBOs John oliver which explains very accurately the position Puerto Rico was in courtesy of outside sources.

[@kingbruce583]

Don't tell congress. They will do it just like that.

[@irandom419]

I wish it'd be interesting enough to do open a business in each state.

[@davearbogast2882]

Hi John, "Gov. Richard Engler" goes by "Gov. John Engler"

[@Jazzper79]

Beautiful

[@lostguardian4637]

"No taxation without representation." Bullshit.

[@masterbulgokov]

Can we get this guy to come run our country? . . . Or anyone that can do elementary arithmetic?

[@joshuakeys1596]

I wish we had a choice like him in Florida! All we seam to get are crooks for choices?

[@devinkim4588]

It's all well and good , but i want to hear the other side.

[@GirlofNicky]

If Greece took these unpopular dufficult steps they probably would not have gone bankrupt. Margaret Thatcher did the sane things to save England from Bankruptsy (spelling?). It was very difficult for average people but it would have been worse if their country went Bankrupt.

[@puertorock1390]

As if Fortuño didn’t do the exact same thing...

[@maxscott3349]

I would say don't become a U.S. commonwealth, but that's even better.

[@waaazupd1948]

Best way to improve an economy is to shrink the government

[@ИванИвановИванович-т1ф]

A "fascist" for shrinking the government.

[@OIdiesCentral]

Forget P.R.The u.s has never learned from the case of detroit and soon chicago.

[@matthewdean8070]

I want a autographed book ...And maybe I should move to Puerto Rico..lol never thought i would say that

[@maxscott3349]

"Now we have people on the streets, where they belong" uhhhhhhh.....might want to rephrase that juuuust a little

[@ianmvp1]

Max Scott he meant to say that since the cut all those permits now the police officers who were handling those permit could go back to the streets, “where they belong”

[@ITPalGame]

👀lady in black shirt helping people at that office 😘🥰❤️💋😍💘🌹

[@thefakenewsnetwork8072]

Legend

[@67lomeli]

¿Por qué Puerto Rico hoy esta en las ruinas! Hace años el gobierno en Puerto Rico manejaba muy mal la economía y gastaba más de lo que recibía. Tenían un gasto llamado gasto deficitario y eso puede ser muy malo para un país. Había mucho desperdicio e ineficiencia. A nadie le decían, “ten los hijos que tu puedas mantener para que no seas carga para la nación”. Nadie le decía a los ciudadanos, “no preguntes que es lo que tu país puede hacer por ti. Pregunta qué es lo qué tu puedes hacer por tu país”. Un día los políticos Puertorriqueños se fueron a Compton California a inspirarse donde vieron colas de paisanos y Afro-Americanos pidiendo prestamos bajo los prestamistas llamados “Payday Loans” (prestamos para el día de paga). Por fuera del “Payday Loans” había carros viejos gruñéndole al viento por mofles rotos e incapacitados que se sostenían en muletas pidiendo prestamos para pagarlos el siguiente día al 20 por ciento de rédito. Los políticos ahí sintieron un poco fuera de lugar pero se amarraron sus corbatas, se apretaron sus trajes y a firmar el contrato con pluma de oro. Con ese dinero, se pusieron a favorecer a sus amigos y darles empleos a sus familiares. Ahora la población en Puerto Rico esta sufriendo necesidades porque esos fueron prestamos de réditos altos como los de tarjeta de crédito. Los políticos pensaron “Que se chinge el político que viene en dos años” y patearon el bote hacia el mar y se fueron a celebrar el préstamo comiendo caviar en un club de Nueva York. Como la International Monetary Fund (IMF) no les puede prestar dinero porque no pueden devaluar el dólar, ya no hay más dinero que ellos puedan pedir prestado para compartirlo con sus familiares y amigos. Es sumamente importante terminar con la corrupción política para siempre aunque tengamos que meter a todos al bote. ¡Todo se podrá hacer si el pueblo mexicano se une detrás de Lomelí y Dios! ¡En Dios no hay corrupción pero si lo hay en la religión y el hombre! (Les recuerdo que la corrupción es genética y no hay quimioterapia para eliminarla del PRI o PAN.)

[@desertrose2085]

The ants have a tough sell to the grasshoppers.