Ryan and McConnell Push Through Puerto Rico Bailout

FedUp PAC StaffRyan and McConnell Push Through Puerto Rico Bailout

Who says Congress is gridlocked and cannot pass anything? The Puerto Rico Bailout bill that just zoomed through Congress shows that when liberals really want a bill, Speaker Ryan and Majority Leader McConnell know how to line up enough Republicans to help them do it.

The bailout bill was introduced on May 18, passed the House on June 9, then the Senate on June 28. President Obama happily signed it into law on June 30 – just 43 days after it was introduced.

In both the House and Senate, opposition came mainly from Republicans (although some Democrats, such as Bernie Sanders, opposed it on the grounds that it needed to be even more liberal). Nevertheless, Ryan and McConnell put the bill on a fast-track and twisted arms to make sure it would pass with Republican support.

Puerto Rico’s generous welfare state is now likely to continue in place, while lenders who foolishly trusted the Puerto Rican Constitution’s guarantee of payment will find themselves accepting, at best, partial payment at some unknown future time.

The rule of law has taken a beating. Republican leaders have demonstrated that the Constitution of Puerto Rico will be ignored as easily as the Constitution of the United States, if liberals demand it.

The 18 Republican senators and 103 Republican representatives who voted no deserve our thanks. Those who voted for the bailout need to hear what we think of this betrayal.