During the after show portion of his daily podcast “The Ben Shapiro Show” on Thursday, host and Editor-in-Chief of the Daily Wire cautioned that the United States ought to heed the warning we’re seeing in Puerto Rico regarding their current debt crisis.
“[T]he wages of debt are political suicide,” stated Ben Shapiro. “That’s where we are going, and as a country, we ought to heed the warning that we see in Puerto Rico.”
Ben Shapiro’s remarks came after, according to Reuters.com, Puerto Rican “Governor Ricardo Rosselló said on Wednesday he would step down on Aug. 2 in the face of public anger over the release of profane chat messages and embezzlement charges against two former administration officials.” Shapiro’s comments also stem from a budget deal that was reached this week between President Donald J. Trump and leaders in Washington that Justin Bogie of The Heritage Foundation says “marks the final nail in the coffin for the 2011 [Budget Control Act] and portends an alarming future for Americans that care about the nation’s fiscal future and economic prosperity.” 132 House Republicans voted against the Trump-Pelosi spending deal—but House Democrats pushed it through anyway with a final vote of 284-149.
Below is a transcript, in pertinent part, of Ben Shapiro’s comments during his after show on Thursday:
“His [Puerto Rican Governor Ricardo Rosselló] state is literally bankrupt. Puerto Rico is literally bankrupt. They went bankrupt in 2017. And when a disaster hits, he has to beg the United States for help. He has to beg the U.S. government for help. And so what are you going to do, rip on him because he’s treating— It’s like Chris Christie treating Barack Obama nicely, except that Christ Christie didn’t need to treat him nicely to get what he wanted. But Trump is the kinda guy that needs a little flattering to get what he wants.
“The reason this has broader relevance is not merely because one of the reasons that Puerto Rico is having trouble becoming a United States, right? Like, every year, there’s a proposal to incorporate Puerto Rico into the United States. One of the problems is that means the federal government would have to inherit all of that debt.
“But it does raise the question of what happens when this problem comes to the United States. I don’t mean Puerto Rico. I mean the debt crisis. Because the fact is that Puerto Rico declared bankruptcy on a municipal level. The United States is running a $22 trillion debt – $22 trillion – and today, President Trump endorsed another two-year budget deal that blows out the budget to the tune of a trillion dollars in deficits for the next two years. The Republican study came out. They said that this is a bad deal, but Trump wants to get past the election.
“When you keep kicking the can down the road, you end up with unworkable alternatives. And Democrats want to raise the spending anyways. They don’t care about the national debt. They don’t care about the fact that debt eventually ends where Puerto Rico ended up – in a place where you now have to take austerity measures and cut benefits to your citizens who don’t like it, and then elect governments that don’t have the power to do anything because they can’t borrow anymore because they’re bankrupt and then they have to take austerity measures and they don’t like it. It creates enormous amounts of turmoil.
“Now, we can keep kicking the can down the road federally. Puerto Rico has not been able to keep kicking the can down the road, so now they’re eating their own. Again, this is a Democratic politicians in Puerto Rico who’s being ousted by fellow Democrats, many of whom are further to the left. And it’s just going to get uglier over there. So, bad news for the sitting governor of Puerto Rico.
“But again, the wages of debt are political suicide. That’s where we are going, and as a country, we ought to heed the warning that we see in Puerto Rico.”