The avalanche of news coverage on the presidential campaign and the ensuing Trump presidency have buried a lot of issues. Like there was that dentist who killed a lion, that dress where people couldn’t tell if it was white and gold or blue and black, and, oh yes: the debt threatening to drown the island of Puerto Rico like a modern-day, less-rich Atlantis.
Grown-ups in Washington had to take Puerto Rico’s credit card away, drop it in a glass of water, and put into the public-policy freezer until the lovely island learns to manage its finances properly. To help them put their house in order while the credit card is on ice, Congress passed the Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA) which created an oversight board to help the island restructure its debt.
