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Puerto Rico: Difference between revisions
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Columbus named the island {{lang|es|San Juan Bautista}}, in honor of Saint [[John the Baptist]], while the capital city was named {{lang|es|Ciudad de Puerto Rico}} ("Rich Port City").<ref name="CIA World Factbook - Puerto Rico"/> Eventually traders and other maritime visitors came to refer to the entire island as Puerto Rico, while San Juan became the name used for the main trading/shipping port and the capital city.{{efn|Proyecto Salón Hogar (in Spanish) "{{lang|es|Los españoles le cambiaron el nombre de Borikén a San Juan Bautista y a la capital le llamaron Ciudad de Puerto Rico. Con los años, Ciudad de Puerto Rico pasó a ser San Juan, y San Juan Bautista pasó a ser Puerto Rico.}}"<ref>{{cite web |url=http://www.proyectosalonhogar.com/enciclopedia_ilustrada/HistoriaPR1.htm |title=Historia de Puerto Rico |publisher=Proyectosalonhogar.com |access-date=14 April 2014 |archive-date=30 April 2014 |archive-url=https://web.archive.org/web/20140430045127/http://www.proyectosalonhogar.com/Enciclopedia_Ilustrada/HistoriaPR1.htm |url-status=live }}</ref>}} | Columbus named the island {{lang|es|San Juan Bautista}}, in honor of Saint [[John the Baptist]], while the capital city was named {{lang|es|Ciudad de Puerto Rico}} ("Rich Port City").<ref name="CIA World Factbook - Puerto Rico"/> Eventually traders and other maritime visitors came to refer to the entire island as Puerto Rico, while San Juan became the name used for the main trading/shipping port and the capital city.{{efn|Proyecto Salón Hogar (in Spanish) "{{lang|es|Los españoles le cambiaron el nombre de Borikén a San Juan Bautista y a la capital le llamaron Ciudad de Puerto Rico. Con los años, Ciudad de Puerto Rico pasó a ser San Juan, y San Juan Bautista pasó a ser Puerto Rico.}}"<ref>{{cite web |url=http://www.proyectosalonhogar.com/enciclopedia_ilustrada/HistoriaPR1.htm |title=Historia de Puerto Rico |publisher=Proyectosalonhogar.com |access-date=14 April 2014 |archive-date=30 April 2014 |archive-url=https://web.archive.org/web/20140430045127/http://www.proyectosalonhogar.com/Enciclopedia_Ilustrada/HistoriaPR1.htm |url-status=live }}</ref>}} | ||
The island's name was changed to ''Porto Rico'' by the United States after the [[Treaty of Paris of 1898]].<ref>{{cite web |title=Treaty of Peace Between the United States and Spain; December 10, 1898 |url=http://avalon.law.yale.edu/19th_century/sp1898.asp |website=The Avalon Project |publisher=[[Yale Law School]] |access-date=27 July 2016 |archive-date=8 July 2012 |archive-url=https://web.archive.org/web/20120708063629/http://avalon.law.yale.edu/19th_century/sp1898.asp |url-status=live }}</ref> The anglicized name was used by the U.S. government and private enterprises (also ''Porto'' in Italian, French, and Portuguese). The name was changed back to Puerto Rico in 1931 by a joint resolution in Congress introduced by [[Félix Córdova Dávila]].<ref>{{cite web |title=Crafting an Identity |url=http://history.house.gov/Exhibitions-and-Publications/HAIC/Historical-Essays/Foreign-Domestic/Crafting-Identity/ |website=History, Art & Archives |publisher=Office of the Historian and the Clerk of the House's Office of Art and Archives |access-date=27 July 2016 |archive-date=19 August 2016 |archive-url=https://web.archive.org/web/20160819122410/http://history.house.gov/Exhibitions-and-Publications/HAIC/Historical-Essays/Foreign-Domestic/Crafting-Identity/ |url-status=live }}</ref>{{efn|In 1932, the [[U.S. Congress]] officially back-corrected the former [[Anglicization]] of ''Porto Rico'' into the Spanish name ''Puerto Rico''.<ref>{{cite book |author=Pedro A. Malavet |title=America's colony: the political and cultural conflict between the United States and Puerto Rico |url=https://books.google.com/books?id=pKqVpqGVsJYC |year=2004 |publisher=NYU Press |isbn=978-0-8147-5680-5 |pages=[https://books.google.com/books?id=pKqVpqGVsJYC&pg=PA43 43], [https://books.google.com/books?id=pKqVpqGVsJYC&pg=PA181 181 note 76] |access-date=18 October 2020 |archive-date=8 February 2024 |archive-url=https://web.archive.org/web/20240208215202/https://books.google.com/books?id=pKqVpqGVsJYC |url-status=live }}</ref><ref>To change the name of the island of ''Porto Rico'' to ''Puerto Rico'', S.J. Res 36, 72nd Congress, enacted 1932. ({{USStat|47|158}})</ref> It had been using the former spelling in its legislative and judicial records since it acquired the archipelago. Patricia Gherovici states that both ''Porto Rico'' and ''Puerto Rico'' were used interchangeably in the news media and documentation before, during, and after the U.S. conquest of the island in 1898. The ''Porto'' spelling, for instance, was used in the [[Treaty of Paris (1898)|Treaty of Paris]], but ''Puerto'' was used by '' | The island's name was changed to ''Porto Rico'' by the United States after the [[Treaty of Paris of 1898]].<ref>{{cite web |title=Treaty of Peace Between the United States and Spain; December 10, 1898 |url=http://avalon.law.yale.edu/19th_century/sp1898.asp |website=The Avalon Project |publisher=[[Yale Law School]] |access-date=27 July 2016 |archive-date=8 July 2012 |archive-url=https://web.archive.org/web/20120708063629/http://avalon.law.yale.edu/19th_century/sp1898.asp |url-status=live }}</ref> The anglicized name was used by the U.S. government and private enterprises (also ''Porto'' in Italian, French, and Portuguese). The name was changed back to Puerto Rico in 1931 by a joint resolution in Congress introduced by [[Félix Córdova Dávila]].<ref>{{cite web |title=Crafting an Identity |url=http://history.house.gov/Exhibitions-and-Publications/HAIC/Historical-Essays/Foreign-Domestic/Crafting-Identity/ |website=History, Art & Archives |publisher=Office of the Historian and the Clerk of the House's Office of Art and Archives |access-date=27 July 2016 |archive-date=19 August 2016 |archive-url=https://web.archive.org/web/20160819122410/http://history.house.gov/Exhibitions-and-Publications/HAIC/Historical-Essays/Foreign-Domestic/Crafting-Identity/ |url-status=live }}</ref>{{efn|In 1932, the [[U.S. Congress]] officially back-corrected the former [[Anglicization]] of ''Porto Rico'' into the Spanish name ''Puerto Rico''.<ref>{{cite book |author=Pedro A. Malavet |title=America's colony: the political and cultural conflict between the United States and Puerto Rico |url=https://books.google.com/books?id=pKqVpqGVsJYC |year=2004 |publisher=NYU Press |isbn=978-0-8147-5680-5 |pages=[https://books.google.com/books?id=pKqVpqGVsJYC&pg=PA43 43], [https://books.google.com/books?id=pKqVpqGVsJYC&pg=PA181 181 note 76] |access-date=18 October 2020 |archive-date=8 February 2024 |archive-url=https://web.archive.org/web/20240208215202/https://books.google.com/books?id=pKqVpqGVsJYC |url-status=live }}</ref><ref>To change the name of the island of ''Porto Rico'' to ''Puerto Rico'', S.J. Res 36, 72nd Congress, enacted 1932. ({{USStat|47|158}})</ref> It had been using the former spelling in its legislative and judicial records since it acquired the archipelago. Patricia Gherovici states that both ''Porto Rico'' and ''Puerto Rico'' were used interchangeably in the news media and documentation before, during, and after the U.S. conquest of the island in 1898. The ''Porto'' spelling, for instance, was used in the [[Treaty of Paris (1898)|Treaty of Paris]], but ''Puerto'' was used by ''The New York Times'' that same year. Nancy Morris clarifies that "a curious oversight in the drafting of the [[Foraker Act]] caused the name of the island to be officially misspelled".<ref>{{cite book |author=Patricia Gherovici |title=The Puerto Rican syndrome |url=https://books.google.com/books?id=2jSsxVWxu2sC |year=2003 |publisher=Other Press, LLC |isbn=978-1-892746-75-7 |pages=[https://books.google.com/books?id=2jSsxVWxu2sC&pg=PA140 140–141] |access-date=18 October 2020 |archive-date=8 February 2024 |archive-url=https://web.archive.org/web/20240208215157/https://books.google.com/books?id=2jSsxVWxu2sC |url-status=live }}</ref> However, Gervasio Luis Garcia traces the Anglicized spelling to a ''[[National Geographic (magazine)|National Geographic]]'' article from 1899, after which the spelling was kept by many agencies and entities because of the ethnic and linguistic pride of the English-speaking citizens of the American mainland.<ref>{{Cite book |url=https://books.google.com/books?id=Dw2ZjkgjchkC |title=Hispanic Americans in Congress, 1822–2012 |last=Historian |first=Office of the |date=1 January 2013 |publisher=Government Printing Office |isbn=978-0-16-092068-4 |language=en |access-date=17 August 2016 |archive-date=8 February 2024 |archive-url=https://web.archive.org/web/20240208215204/https://books.google.com/books?id=Dw2ZjkgjchkC |url-status=live }}</ref>}}<ref>{{Cite book |url=https://archive.org/details/registerportori03ricogoog |title=Register of Porto Rico |last1=Secretary's |first1=Puerto Rico |last2=Office |first2=Puerto Rico Secretary's |date=1 January 1903 |publisher=Office of the Secretary |language=en}}</ref><ref>{{Cite book |url=https://books.google.com/books?id=gWczAQAAIAAJ |title=Porto Rico: A Caribbean Isle |last1=Van Deusen |first1=Richard James |last2=Van Deusen |first2=Elizabeth Kneipple |date=1931 |publisher=Henry Holt |language=en |access-date=17 August 2016 |archive-date=8 February 2024 |archive-url=https://web.archive.org/web/20240208215040/https://books.google.com/books?id=gWczAQAAIAAJ |url-status=live }}</ref><ref>{{Cite book |url=https://books.google.com/books?id=jGhNAAAAYAAJ |title=Scientific survey of Porto Rico and the Virgin Islands |last=Sciences |first=New York Academy of |date=1922 |publisher=New York Academy of Sciences |language=en}}</ref> | ||
The official name of the entity in Spanish is {{lang|es|Estado Libre Asociado de Puerto Rico}} ("Free [[Associated State]] of Puerto Rico"), while its official English name is [[Commonwealth (U.S. insular area)#Commonwealth of Puerto Rico|Commonwealth of Puerto Rico]].<ref name="CIA World Factbook - Puerto Rico"/> The Spanish official name was suggested by its architect [[Luis Muñoz Marín]] and adopted by a constitutional assembly on July 25 1952. Some authorities have called it a [[euphemism]] and have charged that the official name in English of "Commonwealth" constitutes a [[fig leaf]], i.e., associated with the covering up of an act that is actually embarrassing or distasteful with something of innocuous appearance.<ref>[https://books.google.com/books?id=w5mB2mY-ac4C&pg=PT380 ''Latino/a Thought: Culture, Politics, and Society.''] Francisco H. Vazquez. Page 380. Lanham, Md: Rowman Littlefield Publishers. 2009. Accessed 25 May 2012.</ref> Puerto Rico remains a territory of the United States, exercising substantial internal self-government, but subordinated to the U.S. Constitution in areas such as foreign affairs or defense. For this reason, it is not considered to be a full-fledged associated state under either international or U.S. domestic law.<ref>[http://rozenbergquarterly.com/extended-statehood-in-the-caribbean-fifty-years-of-commonwealth-the-contradictions-of-free-associated-statehood-in-puerto-rico/ ''Extended Statehood in the Caribbean ~ Fifty Years of Commonwealth ~ The Contradictions Of Free Associated Statehood in Puerto Rico.''] Rozenberg Quarterly. Accessed 15 August 2020.</ref><ref>[http://www.bu.edu/law/workingpapers-archive/documents/lawsong_and_sloaner040809rev.pdf ''The Constitutionality of Decolonization by Associated Statehood: Puerto Rico's Legal Status Reconsidered.''] Gary Lawson and Robert D. Sloane. Boston University School of Law. Working Paper Number 09-11. 3 August 2009. [https://web.archive.org/web/20191018000656/http://www.bu.edu/law/workingpapers-archive/documents/lawsong_and_sloaner040809rev.pdf Archived] on 18 October 2019 at the Wayback Machine.</ref> | The official name of the entity in Spanish is {{lang|es|Estado Libre Asociado de Puerto Rico}} ("Free [[Associated State]] of Puerto Rico"), while its official English name is [[Commonwealth (U.S. insular area)#Commonwealth of Puerto Rico|Commonwealth of Puerto Rico]].<ref name="CIA World Factbook - Puerto Rico"/> The Spanish official name was suggested by its architect [[Luis Muñoz Marín]] and adopted by a constitutional assembly on July 25 1952. Some authorities have called it a [[euphemism]] and have charged that the official name in English of "Commonwealth" constitutes a [[fig leaf]], i.e., associated with the covering up of an act that is actually embarrassing or distasteful with something of innocuous appearance.<ref>[https://books.google.com/books?id=w5mB2mY-ac4C&pg=PT380 ''Latino/a Thought: Culture, Politics, and Society.''] Francisco H. Vazquez. Page 380. Lanham, Md: Rowman Littlefield Publishers. 2009. Accessed 25 May 2012.</ref> Puerto Rico remains a territory of the United States, exercising substantial internal self-government, but subordinated to the U.S. Constitution in areas such as foreign affairs or defense. For this reason, it is not considered to be a full-fledged associated state under either international or U.S. domestic law.<ref>[http://rozenbergquarterly.com/extended-statehood-in-the-caribbean-fifty-years-of-commonwealth-the-contradictions-of-free-associated-statehood-in-puerto-rico/ ''Extended Statehood in the Caribbean ~ Fifty Years of Commonwealth ~ The Contradictions Of Free Associated Statehood in Puerto Rico.''] Rozenberg Quarterly. Accessed 15 August 2020.</ref><ref>[http://www.bu.edu/law/workingpapers-archive/documents/lawsong_and_sloaner040809rev.pdf ''The Constitutionality of Decolonization by Associated Statehood: Puerto Rico's Legal Status Reconsidered.''] Gary Lawson and Robert D. Sloane. Boston University School of Law. Working Paper Number 09-11. 3 August 2009. [https://web.archive.org/web/20191018000656/http://www.bu.edu/law/workingpapers-archive/documents/lawsong_and_sloaner040809rev.pdf Archived] on 18 October 2019 at the Wayback Machine.</ref> | ||
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{{main|Puerto Rico government-debt crisis|Budget of the Government of Puerto Rico|public debt of Puerto Rico}} | {{main|Puerto Rico government-debt crisis|Budget of the Government of Puerto Rico|public debt of Puerto Rico}} | ||
Puerto Rico has an [[operating budget]] of about U.S.$9.8 billion with expenses at about $10.4 billion, creating a structural deficit of $775 million (about 7.9% of the budget).<ref name="el-vocero-la-estadidad-es-uniforme">{{cite news |url=http://elvocero.com/la-estadidad-es-una-unica-uniforme-e-irreversible/ |title=La Estadidad es una, única, uniforme e irreversible |first=José |last=Castrodad |newspaper=[[El Vocero]] |date=7 April 2014 |access-date=8 April 2014 |archive-url=https://web.archive.org/web/20140409052840/http://elvocero.com/la-estadidad-es-una-unica-uniforme-e-irreversible/ |archive-date=9 April 2014 |url-status=dead }}</ref> The practice of approving budgets with a structural deficit has been done for {{years ago|2000}} consecutive years starting in 2000. Throughout those years, including present time, all budgets contemplated issuing bonds to cover these projected deficits rather than making structural adjustments. This practice increased Puerto Rico's cumulative debt, as the government had already been issuing bonds [[Puerto Rico government budget balance|to balance its actual budget]] for four decades beginning in 1973.{{efn|Walsh (2013) "In each of the last six years, Puerto Rico sold hundreds of millions of dollars of new bonds just to meet payments on its older, outstanding bonds – a red flag. It also sold $2.5 billion worth of bonds to raise cash for its troubled pension system – a risky practice – and it sold still more long-term bonds to cover its yearly budget deficits."<ref>{{cite news |url=https://dealbook.nytimes.com/2013/10/07/worsening-debt-crisis-threatens-puerto-rico/ |title=Worsening Debt Crisis Threatens Puerto Rico |first=Mary |last=Walsh |newspaper= | Puerto Rico has an [[operating budget]] of about U.S.$9.8 billion with expenses at about $10.4 billion, creating a structural deficit of $775 million (about 7.9% of the budget).<ref name="el-vocero-la-estadidad-es-uniforme">{{cite news |url=http://elvocero.com/la-estadidad-es-una-unica-uniforme-e-irreversible/ |title=La Estadidad es una, única, uniforme e irreversible |first=José |last=Castrodad |newspaper=[[El Vocero]] |date=7 April 2014 |access-date=8 April 2014 |archive-url=https://web.archive.org/web/20140409052840/http://elvocero.com/la-estadidad-es-una-unica-uniforme-e-irreversible/ |archive-date=9 April 2014 |url-status=dead }}</ref> The practice of approving budgets with a structural deficit has been done for {{years ago|2000}} consecutive years starting in 2000. Throughout those years, including present time, all budgets contemplated issuing bonds to cover these projected deficits rather than making structural adjustments. This practice increased Puerto Rico's cumulative debt, as the government had already been issuing bonds [[Puerto Rico government budget balance|to balance its actual budget]] for four decades beginning in 1973.{{efn|Walsh (2013) "In each of the last six years, Puerto Rico sold hundreds of millions of dollars of new bonds just to meet payments on its older, outstanding bonds – a red flag. It also sold $2.5 billion worth of bonds to raise cash for its troubled pension system – a risky practice – and it sold still more long-term bonds to cover its yearly budget deficits."<ref>{{cite news |url=https://dealbook.nytimes.com/2013/10/07/worsening-debt-crisis-threatens-puerto-rico/ |title=Worsening Debt Crisis Threatens Puerto Rico |first=Mary |last=Walsh |newspaper=The New York Times |date=7 October 2013 |access-date=8 October 2013 |archive-date=2 November 2013 |archive-url=https://web.archive.org/web/20131102003355/http://dealbook.nytimes.com/2013/10/07/worsening-debt-crisis-threatens-puerto-rico/ |url-status=live }}</ref>}}<ref>{{cite news |url=http://www.elnuevodia.com/comopuertoricollegoatenercreditochatarra-1704621.html |title=¿Cómo Puerto Rico llegó a tener crédito chatarra? |newspaper=[[El Nuevo Día]] |date=4 February 2014 |access-date=2 March 2014 |language=es |archive-date=2 March 2014 |archive-url=https://web.archive.org/web/20140302003237/http://www.elnuevodia.com/comopuertoricollegoatenercreditochatarra-1704621.html |url-status=dead }}</ref> | ||
[[File:Budget-of-the-government-of-puerto-rico-2012-percentage.png|thumb|upright=1.8|The 2012 Budget of the government of Puerto Rico]] | [[File:Budget-of-the-government-of-puerto-rico-2012-percentage.png|thumb|upright=1.8|The 2012 Budget of the government of Puerto Rico]] | ||
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The critical aspects come from the sale of bonds, which comprise 7% of the consolidated budget – a ratio that increased annually due to the government's inability to prepare a balanced budget in addition to being incapable of generating enough income to cover all its expenses. In particular, the government-owned corporations add a heavy burden to the overall budget and public debt, as none is self-sufficient. For example, in FY2011 the government-owned corporations reported aggregated losses of more than $1.3B with the [[Puerto Rico Highways and Transportation Authority]] (PRHTA) reporting losses of $409M, the [[Puerto Rico Electric Power Authority]] (PREPA; the government monopoly that controls all electricity on the island) reporting losses of $272M, while the [[Puerto Rico Aqueducts and Sewers Authority]] (PRASA; the government monopoly that controls all water utilities on the island) reported losses of $112M.<ref>{{cite web |url=http://grupocne.org/2013/01/31/san-juan-2023-o-la-decadencia-de-un-pais/ |title=San Juan 2023 o la decadencia de un País |work=Centro Para Una Nueva Economía |publisher=Center for a New Economy |date=31 January 2013 |access-date=28 April 2014 |archive-date=29 April 2014 |archive-url=https://web.archive.org/web/20140429045551/http://grupocne.org/2013/01/31/san-juan-2023-o-la-decadencia-de-un-pais/ |url-status=live }}</ref> | The critical aspects come from the sale of bonds, which comprise 7% of the consolidated budget – a ratio that increased annually due to the government's inability to prepare a balanced budget in addition to being incapable of generating enough income to cover all its expenses. In particular, the government-owned corporations add a heavy burden to the overall budget and public debt, as none is self-sufficient. For example, in FY2011 the government-owned corporations reported aggregated losses of more than $1.3B with the [[Puerto Rico Highways and Transportation Authority]] (PRHTA) reporting losses of $409M, the [[Puerto Rico Electric Power Authority]] (PREPA; the government monopoly that controls all electricity on the island) reporting losses of $272M, while the [[Puerto Rico Aqueducts and Sewers Authority]] (PRASA; the government monopoly that controls all water utilities on the island) reported losses of $112M.<ref>{{cite web |url=http://grupocne.org/2013/01/31/san-juan-2023-o-la-decadencia-de-un-pais/ |title=San Juan 2023 o la decadencia de un País |work=Centro Para Una Nueva Economía |publisher=Center for a New Economy |date=31 January 2013 |access-date=28 April 2014 |archive-date=29 April 2014 |archive-url=https://web.archive.org/web/20140429045551/http://grupocne.org/2013/01/31/san-juan-2023-o-la-decadencia-de-un-pais/ |url-status=live }}</ref> | ||
Losses by government-owned corporations have been defrayed through the issuance of bonds compounding more than 40% of Puerto Rico's entire public debt today.<ref>{{cite web |url=http://www2.pr.gov/presupuestos/presupuesto2011-2012/Resumen%20del%20Presupuesto/Servicio%20de%20la%20Deuda.pdf |title=SERVICIO DE LA DEUDA |website=".pr.gov |access-date=26 August 2017 |archive-url=https://web.archive.org/web/20170525014050/http://www2.pr.gov/presupuestos/presupuesto2011-2012/Resumen%20del%20Presupuesto/Servicio%20de%20la%20Deuda.pdf |archive-date=25 May 2017 }}</ref> Holistically, from FY2000–FY2010 Puerto Rico's debt grew at a [[compound annual growth rate]] (CAGR) of 9% while GDP remained stagnant.<ref>{{cite web |url=http://gdbpr.com/spa/investors_resources/documents/2011-07-12-DeudaPublicaDic2010-GS.pdf |title=Reporte General sobre Deuda Pública |website=".pr.gov |access-date=26 August 2017 |archive-url=https://web.archive.org/web/20170525013905/http://gdbpr.com/spa/investors_resources/documents/2011-07-12-DeudaPublicaDic2010-GS.pdf |archive-date=25 May 2017 }}</ref> This has not always provided a long-term solution. In early July 2017 for example, the PREPA power authority was effectively bankrupt after defaulting in a plan to restructure $9 billion in bond debt; the agency planned to seek Court protection.<ref>{{cite news |url=https://www.nytimes.com/2017/07/02/business/puerto-ricos-electric-power-authority-effectively-files-for-bankruptcy.html |archive-url=https://web.archive.org/web/20170703030726/https://www.nytimes.com/2017/07/02/business/puerto-ricos-electric-power-authority-effectively-files-for-bankruptcy.html |archive-date=3 July 2017 |url-access=subscription |url-status=live |title=Puerto Rico's Power Authority Effectively Files for Bankruptcy |first=Mary Williams |last=Walsh |date=2 July 2017 |access-date=26 August 2017 |website= | Losses by government-owned corporations have been defrayed through the issuance of bonds compounding more than 40% of Puerto Rico's entire public debt today.<ref>{{cite web |url=http://www2.pr.gov/presupuestos/presupuesto2011-2012/Resumen%20del%20Presupuesto/Servicio%20de%20la%20Deuda.pdf |title=SERVICIO DE LA DEUDA |website=".pr.gov |access-date=26 August 2017 |archive-url=https://web.archive.org/web/20170525014050/http://www2.pr.gov/presupuestos/presupuesto2011-2012/Resumen%20del%20Presupuesto/Servicio%20de%20la%20Deuda.pdf |archive-date=25 May 2017 }}</ref> Holistically, from FY2000–FY2010 Puerto Rico's debt grew at a [[compound annual growth rate]] (CAGR) of 9% while GDP remained stagnant.<ref>{{cite web |url=http://gdbpr.com/spa/investors_resources/documents/2011-07-12-DeudaPublicaDic2010-GS.pdf |title=Reporte General sobre Deuda Pública |website=".pr.gov |access-date=26 August 2017 |archive-url=https://web.archive.org/web/20170525013905/http://gdbpr.com/spa/investors_resources/documents/2011-07-12-DeudaPublicaDic2010-GS.pdf |archive-date=25 May 2017 }}</ref> This has not always provided a long-term solution. In early July 2017 for example, the PREPA power authority was effectively bankrupt after defaulting in a plan to restructure $9 billion in bond debt; the agency planned to seek Court protection.<ref>{{cite news |url=https://www.nytimes.com/2017/07/02/business/puerto-ricos-electric-power-authority-effectively-files-for-bankruptcy.html |archive-url=https://web.archive.org/web/20170703030726/https://www.nytimes.com/2017/07/02/business/puerto-ricos-electric-power-authority-effectively-files-for-bankruptcy.html |archive-date=3 July 2017 |url-access=subscription |url-status=live |title=Puerto Rico's Power Authority Effectively Files for Bankruptcy |first=Mary Williams |last=Walsh |date=2 July 2017 |access-date=26 August 2017 |website=The New York Times}}</ref> | ||
===Cost of living=== | ===Cost of living=== | ||
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Puerto Rico has representation in all international competitions including the [[Summer Olympics|Summer]] and [[Winter Olympics]], the [[Pan American Games]], the [[Caribbean World Series]], and the [[Central American and Caribbean Games]]. Puerto Rico hosted the Pan Am Games in 1979 (officially in San Juan), and The [[Central American and Caribbean Games]] were hosted in [[1993 Central American and Caribbean Games|1993]] in [[Ponce, Puerto Rico|Ponce]] and in [[2010 Central American and Caribbean Games|2010]] in [[Mayagüez]]. | Puerto Rico has representation in all international competitions including the [[Summer Olympics|Summer]] and [[Winter Olympics]], the [[Pan American Games]], the [[Caribbean World Series]], and the [[Central American and Caribbean Games]]. Puerto Rico hosted the Pan Am Games in 1979 (officially in San Juan), and The [[Central American and Caribbean Games]] were hosted in [[1993 Central American and Caribbean Games|1993]] in [[Ponce, Puerto Rico|Ponce]] and in [[2010 Central American and Caribbean Games|2010]] in [[Mayagüez]]. | ||
Puerto Rican athletes have won ten medals in Olympic competition (two gold, two silver, six bronze), the first one in 1948 by boxer [[Juan Evangelista Venegas]]. [[Monica Puig]] won the first gold medal for Puerto Rico in the Olympic Games by winning the [[Tennis at the 2016 Summer Olympics#Medal events|Women's Tennis singles title in Rio 2016]].<ref>{{cite web |url=https://www.rio2016.com/en/news/who-is-monica-puig-the-puerto-rico-puerto-rican-tennis-player-at-rio-2016-olympic-games |title=Who is Mónica Puig the Puerto Rico player who won the gold medal in the Rio 2016 Olympic Games women's tennis final? |date=14 August 2016 |website=Rio2016.com |publisher=[[Rio 2016 Organising Committee for the Olympic and Paralympic Games]] |access-date=14 August 2016 |archive-url=https://web.archive.org/web/20160826095633/https://www.rio2016.com/en/news/who-is-monica-puig-the-puerto-rico-puerto-rican-tennis-player-at-rio-2016-olympic-games |archive-date=26 August 2016 |url-status=dead }}</ref><ref>{{cite news |url=https://www.nytimes.com/2016/08/26/sports/tennis/monica-puig-puerto-rico-olympics-gold-medalist.html |archive-url=https://web.archive.org/web/20160826101224/http://www.nytimes.com/2016/08/26/sports/tennis/monica-puig-puerto-rico-olympics-gold-medalist.html |archive-date=26 August 2016 |url-access=subscription |url-status=live |title=Monica Puig, Puerto Rico's Favorite Daughter (and Only Gold Medalist) |first=David |last=Waldstein |date=25 August 2016 |website= | Puerto Rican athletes have won ten medals in Olympic competition (two gold, two silver, six bronze), the first one in 1948 by boxer [[Juan Evangelista Venegas]]. [[Monica Puig]] won the first gold medal for Puerto Rico in the Olympic Games by winning the [[Tennis at the 2016 Summer Olympics#Medal events|Women's Tennis singles title in Rio 2016]].<ref>{{cite web |url=https://www.rio2016.com/en/news/who-is-monica-puig-the-puerto-rico-puerto-rican-tennis-player-at-rio-2016-olympic-games |title=Who is Mónica Puig the Puerto Rico player who won the gold medal in the Rio 2016 Olympic Games women's tennis final? |date=14 August 2016 |website=Rio2016.com |publisher=[[Rio 2016 Organising Committee for the Olympic and Paralympic Games]] |access-date=14 August 2016 |archive-url=https://web.archive.org/web/20160826095633/https://www.rio2016.com/en/news/who-is-monica-puig-the-puerto-rico-puerto-rican-tennis-player-at-rio-2016-olympic-games |archive-date=26 August 2016 |url-status=dead }}</ref><ref>{{cite news |url=https://www.nytimes.com/2016/08/26/sports/tennis/monica-puig-puerto-rico-olympics-gold-medalist.html |archive-url=https://web.archive.org/web/20160826101224/http://www.nytimes.com/2016/08/26/sports/tennis/monica-puig-puerto-rico-olympics-gold-medalist.html |archive-date=26 August 2016 |url-access=subscription |url-status=live |title=Monica Puig, Puerto Rico's Favorite Daughter (and Only Gold Medalist) |first=David |last=Waldstein |date=25 August 2016 |website=The New York Times}}</ref> | ||
==See also== | ==See also== | ||