Gustavo Velez Quotes & Sayings
Enjoy the top 1 famous quotes, sayings and quotations by Gustavo Velez.
Famous Quotes By Gustavo Velez
Detroit had an accumulated debt of $20 billion, including a $9 billion debt with the public workers pension plans. The fact Puerto Rico and Detroit, showcased many similarities, led to speculation about the real possibility of the island's fiscal collapse. In Puerto Rico's case, at that point, the debt amounted to $71.3 billion and the local economy's structural problems were very similar to those in Detroit. The effects of the end of Section 936 in the island, the eventual economic stagnation, and the public debt, professional's emigration, and the continued reduction of the tax base have generated a sort of spiral fall. — Gustavo Velez