Puerto Rico is suffocating under a mountain of $73 billion in debt — and everyone from Jeb Bush to Hillary Clinton to Barack Obama is urging Congress to throw the U.S. territory a bankruptcy lifeline.
Like European creditors wary of bailing out debt-ridden Greece, many Hill Republicans — from GOP presidential hopefuls to fiery rank-and-file conservatives — have no interest in rescuing the island from self-induced borrowing woes by allowing it to access key bankruptcy protections.
“I’m very reluctant to go down this road of bankruptcy because I don’t know where it ends,” said Sen. Lindsey Graham (R-S.C.), a contender for the 2016 presidential nomination. “I talked to my people, really haven’t made up my mind yet. But I don’t see me supporting the Democratic legislation.”
Capitol Hill’s response? A slow shrug.