Florida is ground zero in next week’s midterm elections, with critical Senate and governor’s races on razor-thin margins. The result, and that of Florida’s electoral future, could ultimately be decided by the state’s exploding Puerto Rican population, a group that tends to vote overwhelmingly in favor of Democrats.
Years of economic mismanagement created a seemingly unsolvable crisis in Puerto Rico. Today, the U.S. territory faces more than $74 billion in bond debt and an additional $49 billion in unfunded pension liabilities. Simultaneously, 10 percent of the population is unemployed while nearly 40 percent rely on food stamps. The workforce participation rate is a pitiful 40 percent due to overregulation and welfare that often pays better than jobs. Continue Reading>>
