is there blame to go around here for how peurto rico got into the mess. >> yes, everyone in peurto ricow that this would eventually happen, that the debt problem was unsustainable over time there's a lot of pork a lot of patronage, a lot of inefficiencies in the government. and at the same time as you pointed out. it's important within porto rico, as basically when everyone agrees to call it a colony of the united states some of these problems, a lot of these problems have to do with the fact that since porto rico's take over of the united states it's a cash cow for the country and american corporations. and has been basically, i think, undernourished financially over the last 117 years creating problems with this - what i call the colonial model that the united states has, porto rico being the colony. >> if you look at the period after peurto ricans elect their government. roughly starting after the world war ii did the united states basically wash its hands of the place after that? >> well essentially peurto rico had its legs taken away at the outset of the relationship and replaced b

what a default would mean for the people of peurto rico. and 10 years of the roberts court, the core beliefs and whether he's the conservative chief justice his supporters thought he would be. >>> tonight peurto rico is making a last minute effort to avoid default on its debt. the u.s. commonwealth racked up about $73 billion in deftenlt the consequences of default -- debt. the consequences of default could reach beyond the island shores. robert ray is there with more. >> good evening, peurto rico has been in a recession for nearly nine years, people have been leaving in droves as the rest of the u.s. economy has been in recovery. the united states government said they will not give a bailout to the island of peurto rico and the electric company who owes bond holders $4 million tomorrow is doing an overnight deal in hopes not to default, as other public agencies figure out how to pay off the debt over the course of the summer. >> reporter: from above it looks like an island paradise. vibrant in many ways but the view at close range reveals

peurto rico's government indicated that it could not re pay loans. robert ray has more. >> reporter: from above it looks like an island paradise. vibrant in many ways but the view at close range reveals many businesses shuttered - poverty front and center. the u.s. territory of peurto rico is broke. >> translation: this is not about politics, it's about maths. >> reporter: 72 billion in public debt that the governor recently said was unpayable. >> translation: the first step is to revive economic growth. but we need to do more, much more. because peurto rico is not a state it cannot file chapter 9 bankruptcy. washington advised it would not throw money at the island. . >> there's no one in the administration or dv that s considering a federal bailout of peurto rico, we are committed to working with them and their leaders. >> reporter: there's 3.5 million leaving on the island of peurto rico, and there's over $70 billion in debt. if each resident paid $20,000, that would eliminate that massive amount of money. the medium income for someone working ful

this is the end of the fiscal year for peurto rico.overnment is trying to negotiate with bond holders over the course of the paf few days. tomorrow there's a debt that they owe, and that is a situation they are trying to negotiate overnight. in the meantime the governor addressed this island and all the people 3.6 million people, and he didn't sound too optimistic. let's listen. >> listen though this clearly. this is not about politics, it's maths. the first step is to revive growth. without growth in peurto rico we'll never get out of the cycle. we need to do more much more. >> it's a huge hurdle - $73 billion. and, you know tomorrow the sales tax jumps from 7% which is what it is now, to 11.5%. a lot of people in the capital city of san juan hit groceries stores going to gas stakeses stocking up and bulking up before it increases. the average median income of someone that works here - 19,600. >> the governor yesterday was forceful about how peurto ricans can't pay the debt. what else is he doing to try to solve the crisis? >> they ar

crucial infrastructure repairs postponed indefinitely, it's not a programme about greece, it's peurtoico, where those that can are packing up and heading to the mainland. others are stuck watching the relentless decline. porto rico drowning in debt is the "i

crucial infrastructure repairs postponed indefinitely it's not a programme about greece, it's peurtoo, where those that can are packing up and heading to the mainland. others are stuck watching the relentless decline.