This is what we have allowed successive governments to do to us: bring us to the brink of financial debacle. We are up to a point where government is running out of options fast and the draconian measures meant to reduce public spending are not enough. Even an increase in taxes (assuming Puerto Rico's treasury is able to collect taxes efficiently) might not curb our public debt's downward spiral. See the article linked below from Reuters,
Our government's brilliant solution: tourism. We'll deposit our hopes, not on diversifying our economy, not on outside and local investment, not on promoting small, middle and cooperative enterprises (see here), not on creating a thriving entrepreneurial class, not on improving the conditions of the Middle Class, but on American tourists. And while tourism in itself is not a bad thing, take a look a what type the government is trying to promote: high-end tourism based on luxury-hotel-occupation and considerable amount of spending.
Our government's brilliant solution: tourism. We'll deposit our hopes, not on diversifying our economy, not on outside and local investment, not on promoting small, middle and cooperative enterprises (see here), not on creating a thriving entrepreneurial class, not on improving the conditions of the Middle Class, but on American tourists. And while tourism in itself is not a bad thing, take a look a what type the government is trying to promote: high-end tourism based on luxury-hotel-occupation and considerable amount of spending.
Think about it, the government (all our governments, actually) is putting all hopes into the notion that rich and upper-middle-class Americans — assuming that they want to dispose of their income, and are not struggling financially — will choose to come here and spend their dollars. All of this, notwithstanding the fact that there are cheaper and more diverse destinations in the Caribbean, that we are now paying the price for letting American Airlines have almost exclusive use of our international airport, that we have done little to develop regional tourism through expansion of several airports around the island, and that our high port taxes are scaring cruise lines away. Add to that the fact that we are putting virtually all our money into just one sector of tourism. Not even here do they wish to diversify.
Thus, with that the government grudgingly swallows its tongue. They have little to say on the matter, and us as constituents (those that pay taxes anyway) are left to foot the bill. We hopelessly witness the parade of fiscal oblivion as previous governments, who should bear the responsibility, express no regret, nor atone for its misdeeds. We also watch incredulously as the current government's rigid fiscal policies run out of steam and the Puerto Rican economy can't match its effect with growth. At best it is sluggish, at worst immobile. Perhaps we should take a look a this set of numbers from the Census Bureau. It might give us a panoramic picture of our state of being and maybe, just maybe, make better policy
And so, as hopelessness spreads like a disease, we recur to the worst idea possible, reminding us in turn that we have not been able to shed our colonialist mindset: we wait for the Americans to "bail us out". I'd love to see our leaders sell that idea in Washington.
But do tell me what you think...
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