Wednesday , May 1 2024
Home / Mike Norman Economics / Aída Chávez — Freedom Caucus Chair Warns Congress Not To “Bail Out” Puerto Rico

Aída Chávez — Freedom Caucus Chair Warns Congress Not To “Bail Out” Puerto Rico

Summary:
“It’s somebody’s money,” [House Freedom Caucus Chairman Mark] Meadows told The Intercept after a House vote on the aid package this week. “It’s different if you could just print money and it didn’t come out of my pocket or your pocket. It comes out of the American taxpayer’s pocket… Where does this person think the money to pay taxes comes from if the state doesn't issue the currency first and only accepts its own currency in payment of obligations the state imposes?The InterceptFreedom Caucus Chair Warns Congress Not To “Bail Out” Puerto Rico Aída Chávez

Topics:
Mike Norman considers the following as important:

This could be interesting, too:

Mike Norman writes Menzie Chin — “Go back to Puerto Rico”

Mike Norman writes Reed Richardson — Media Ignoring Puerto Rico’s ‘Shock Doctrine’ Makeover

Mike Norman writes Kate Aronoff — Disaster Capitalists Take Big Step Toward Privatizing Puerto Rico’s Electric Grid

Mike Norman writes Pam and Russ Martens — Puerto Rico’s Debt Is Quietly Sitting in Mom and Pop Mutual Funds as Trump Says It Will Be Wiped Out

“It’s somebody’s money,” [House Freedom Caucus Chairman Mark] Meadows told The Intercept after a House vote on the aid package this week.
“It’s different if you could just print money and it didn’t come out of my pocket or your pocket. It comes out of the American taxpayer’s pocket…
Where does this person think the money to pay taxes comes from if the state doesn't issue the currency first and only accepts its own currency in payment of obligations the state imposes?

The Intercept
Freedom Caucus Chair Warns Congress Not To “Bail Out” Puerto Rico
Aída Chávez

Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

Leave a Reply

Your email address will not be published. Required fields are marked *