And from his experience, Trump probably thinks that 'wiping out debt' is simply erasing a line item on a spreadsheet. He doesn't really see or care about the debt holders (just like all the contractors he screwed in his bankruptcies).
Hell, Trump himself owed $33 Million to Puerto Rico and defaulted on it.
https://www.deathandtaxesmag.com/346335/trump-golf-course-puerto-rico-default-33-million-tax-debt/
Look, it's fun to blame this on Trump and the dems certainly will but this has been going on for far too long.
Red State has an article on how stupid it is to say the debt will be wiped out. And how that debt will be paid by all taxpayers in the U.S.
That's all very true but, realistically, Puerto Rico couldn't pay it before the hurricane and certainly can't pay it now. We just need to decide if we want to spent billions supporting Puerto Rico or not.
Here's a link and an excerpt from the Red State piece.
https://www.redstate.com/diary/kentucky_dana/2017/10/04/worst-proposal-ever-trump-wants-wipe-puerto-ricos-debt/There’s more at the original, including notes that this is not a fleshed out policy by any means. But it’s important to note: only two states, California ($151,715,007,000) and New York ($137,369,089,000) have more state debt than Puerto Rico, and both have many times the island Commonwealth’s population. The island’s debt is around $12,400 per capita, a number only approached by the wholly-mismanaged states of Massachusetts ($11,100) and Connecticut ($9,862).
Let’s be clear here: if Puerto Rico’s debt is somehow cancelled, we can count on the island’s government to simply borrow more money, to keep spending more than their production justifies. And it will be the American people who are on the hook for whatever covering Puerto Rico’s debt:
