So Puerto Rico is defaulting

[🦀🎂🦀🎂]

Does not look good folks.

[Blue3]

So, what will the actual consequences of this be?

How will it affect the lives of Puerto Ricans?

[🦀🎂🦀🎂]

They've won some breathing space.

So, what will the actual consequences of this be?

How will it affect the lives of Puerto Ricans?

Further down the death spiral. Every conventional option is getting more and more gummy. Further austerity would cause yet more flight to the mainland and genuine social unrest, so would not be cost-effective. Trying to take advantage of the weird constitutional status of PR to form a SEZ is tempting, but is kind of what caused the problem in the first place and is a shot in the dark. Refusing to pay the creditors is against the commonwealth's constitution, and would probably result in a humiliation of a showdown. Restructuring the debt is impossible with a recalcitrant Congress indifferent. Repaying the debt is mathematically impossible.

The Zika outbreak is also becoming genuinely alarming at this stage.

[Green Line]

Puerto Rico made their bed, and now they have to lay in it.

[Gass3268]

Puerto Rico made their bed, and now they have to lay in it.

Really this just means that more Puerto Ricans will be moving to Florida, making it more Democratic. The big swings in the Orlando area is due, almost exclusively, to  the massive migration of of folks from the island.

[I spent the winter writing songs about getting better]

This + Donald Trump basically locks up Rubio's Senate seat for us.

[True Federalist (진정한 연방 주의자)]

So, what will the actual consequences of this be?

How will it affect the lives of Puerto Ricans?

Several 100K Puerto Ricans will probably move to the mainland within a decade.

https://youtu.be/Qy6wo2wpT2k?t=5m54s

[🦀🎂🦀🎂]

Puerto Rico made their bed, and now they have to lay in it.

A lot of this bed was made by somebody else, actually.

[Rules for me, but not for thee]

Pretty much what you need to know about this:

https://www.youtube.com/watch?v=Tt-mpuR_QHQ

[Seneca]

Puerto Rico made their bed, and now they have to lay in it.

Go to hell.

[publicunofficial]

Puerto Rico made their bed, and now they have to lay in it.

Puerto Rico does not have the legal ability to make it's own bed.