ICYMI: Free Puerto Rico from big government shackles
ICYMI: Free Puerto Rico from big government shackles
(Washington, D.C.) – The Orlando Sentinel published an op-ed by Daniel Garza, President of The LIBRE Initiative, regarding the economic crisis in Puerto Rico.
To read the full op-ed, click here
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Puerto Rico desperately needs to free itself from the shackles of big government policies that have for decades driven its economy into the ground, leading hundreds of thousands of its residents to leave this U.S. territory for a better future on the mainland.
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Puerto Ricans living on the island have a lower median household income and a higher child poverty rate than Hispanics of Puerto Rican origin living on the U.S. mainland.
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Together with the local administration, the board should take quick action towards drastically reducing the bloated government bureaucracy, rolling back unneeded regulations, and creating the conditions for businesses to flourish again on the island. The greatest risk for Puerto Rico at this point would be not prioritizing efforts to promote pro-growth reforms in the private sector. Puerto Rico needs to focus on increasing productivity in the private sector to generate long lasting, sustainable job opportunities that would increase revenue, improve infrastructure and create wealth.
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We know these policies work. In fact, after Ireland and New Zealand enacted similar reforms to face similar economic challenges, these countries saw a remarkable economic turnaround. These reforms need to happen in Puerto Rico as well, and at the local level. Puerto Rico cannot afford anymore to keep looking at Congress for solutions.
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If the government cannot be trusted to even keep the lights on, why should it be trusted to run anything else in the economy? That is the hard lesson Puerto Rico needs to digest right now. Lawmakers in Puerto Rico cannot afford to ignore the lessons of the past.
To read the full op-ed, click here
For Interviews with a representative from The LIBRE Initiative, please contact Brian Faughnan, 202-805-1581 or Wadi Gaitan, 202-853-4463
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