John Oliver brings out Hamilton creator to explain why you should care about Puerto Rico's debt crisis


Puerto Rico has been touted as an American vacation destination for decades, John Oliver said on Sunday's Last Week Tonight, showing some vintage promotional reels with a saucy edge. But today, "Puerto Rico is currently about $70 billion in debt, and it is wreaking havoc on the island," Oliver said. "And remember, Americans have a personal stake here," he said. "Puerto Ricans are American citizens," and their ranks include a bunch of famous people, including a Supreme Court justice, sports icons, and Lin-Manuel Miranda, whose musical Hamilton just won a Pulitzer Prize.
"We don't need to settle tonight the question of Puerto Rican statehood," Oliver said, noting that many Puerto Ricans disagree on the issue, "but one thing is for sure: Because it's a territory, many laws that apply to the states have loopholes concerning Puerto Rico, and as you will see time and time again in this piece, those little legal quirks have had massive consequences, some good but many utterly devastating."
In his wonky, profanity-laced, comedic way, Oliver walks viewers through a few court cases, tax breaks given and taken away, recession and desperate measures, an "addiction" to municipal bonds, and the mystery of a provision in a 1984 law that prevented Puerto Rico from seeking Chapter 9 bankruptcy protection, courtesy of Sen. Strom Thurmond (R-S.C.). And now there's the Zika virus. "It's like the island is being hit by all the plagues that God felt were too 'thinky' for the Bible," Oliver said.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
But even though "vulture" hedge funds are circling the island, there is some good news, he said. Congress is considering a bipartisan bill that would "give Puerto Rico some breathing room to negotiate with creditors" — if a coordinated smear campaign doesn't sink it. "The point is, 3.5 million Americans are facing a dire crisis right now, and the clock is ticking," Oliver said. And if, after 20 minutes, he has failed to make you care, he brought out Miranda to perform a new song in which he promises — and this is true — to perform Hamilton at House Speaker Paul Ryan's house. Watch below, though be warned: There is some NSFW language. Peter Weber
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Peter has worked as a news and culture writer and editor at The Week since the site's launch in 2008. He covers politics, world affairs, religion and cultural currents. His journalism career began as a copy editor at a financial newswire and has included editorial positions at The New York Times Magazine, Facts on File, and Oregon State University.
-
New York court tosses Trump's $500M fraud fine
Speed Read A divided appeals court threw out a hefty penalty against President Trump for fraudulently inflating his wealth
-
Trump said to seek government stake in Intel
Speed Read The president and Intel CEO Lip-Bu Tan reportedly discussed the proposal at a recent meeting
-
US to take 15% cut of AI chip sales to China
Speed Read Nvidia and AMD will pay the Trump administration 15% of their revenue from selling artificial intelligence chips to China
-
NFL gets ESPN stake in deal with Disney
Speed Read The deal gives the NFL a 10% stake in Disney's ESPN sports empire and gives ESPN ownership of NFL Network
-
Samsung to make Tesla chips in $16.5B deal
Speed Read Tesla has signed a deal to get its next-generation chips from Samsung
-
FCC greenlights $8B Paramount-Skydance merger
Speed Read The Federal Communications Commission will allow Paramount to merge with the Hollywood studio Skydance
-
Tesla reports plummeting profits
Speed Read The company may soon face more problems with the expiration of federal electric vehicle tax credits
-
Dollar faces historic slump as stocks hit new high
Speed Read While stocks have recovered post-Trump tariffs, the dollar has weakened more than 10% this year