The White House will not consider bailing Puerto Rico out of its $72 billion debt, White House Press Secretary Josh Earnest said Monday. Puerto Rico Gov. Alejandro Garcia Padilla announced the "unpayable" debts Sunday, adding that the commonwealth has been struggling for years.
"There is no one in the administration or in D.C. federal government that's contemplating a federal bailout of Puerto Rico," Earnest told The Hill.
The administration will work with Puerto Rican officials, Earnest said, adding that Congress should consider granting the island the ability to file for Chapter 9 bankruptcy, just like Detroit did in 2013.
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