Networks Completely Ignore $70 Billion Puerto Rican Debt Crisis

Townhall.com Staff
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Posted: Feb 06, 2014 10:13 AM

With rapidly rising debt and an unprecedented credit downgrade, Puerto Rico is facing a looming default with terrifying implications on American bond markets, though you would never know about it watching broadcast news.

The leading credit rating firm Standard & Poor’s Rating services downgraded Puerto Rican debt to “junk” status on Feb. 5, with further downgrades likely. Despite Puerto Rico having more than three times as much debt as Detroit did before bankruptcy, the broadcast networks paid no attention to this looming crisis in the six months before Feb. 1, 2014.