Donald Trump Can’t Get His Money Because of Puerto Rico Debt Crisis

Lead Photo: Michael Vadon
Michael Vadon
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Today in Donald Trump Latino struggles, some news from a different part of Latin America. According to El Nuevo Dia, Trump International Gold Club Puerto Rico filed for bankruptcy protection on Monday as Coco Beach Gold & Country Club. The course is owned by Empresas Diaz, and it owes $78 million. The golf course merely licenses the Trump name, but because of the tough economic times in PR, it hasn’t been able to pay Trump, who’s all “BBHMM.”

This is the least of the island’s worries. Puerto Rico announced at the end of June that it cannot pay their $74 billion debt. U.S. bankruptcy judge Steven Rhodes – the same man who worked with Detroit – is advising the Caribbean country on the debt that is four times bigger than the American state’s. “It can no longer pay its debts, it will soon run out of cash to operate, its residents and businesses will suffer,” he said, explaining that the country desperately needs help.

The Miami Herald already paints a sympathetic view of what this could look like for the residents of San Juan. The newspaper states that the lively, popular vacation destination has seen an increase of closed businesses and bars. One 70 year-old woman says she lives day-to-day after losing her babysitting job. A new 11.5 percent sales tax means the cost of living is going to go up. Gov. Alejandro García Padilla says the whole system needs to be restructured, and his team has until Aug. 30 to develop a plan.