Detroit’s in Great Financial Shape… Compared to Puerto Rico

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Detroit’s in Great Financial Shape… Compared to Puerto Rico
While the U.S. is swept up in debt ceiling debates and shutdown finger-pointing, the crisis in Puerto Rico is accelerating. “Economic growth has been stagnant or declining for many years, since 2006...and it’s not apparent to me or others whether there’s going to be an economic driver. So Puerto Rico has been relying on debt and I think we’re at a point where investors out there think we’re at capacity,” says Robert Donahue, managing director at Municipal Market Advisors.
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