Initial reaction to the «Obama Plan on Puerto Rico» (Translation)

Some of my friends from the mainland have asked me to translated my reactions to the «Obama Plan on Puerto Rico». Here the translation:After reading the Obama Administration’s “plan” on Puerto Rico and recognizing the document’s relevance in this historic moment, I share my initial thoughts on the proposal:
1. My stance has been clear for over a year: we simply cannot afford to pay our debt service and the US must assume their share of the responsibility. The Federal Government must come to the table because they are also responsible. The Administration’s proposal recognizes and acknowledges both of these truths and that, in and of itself, is a great leap forward.
2. The document is very broad and generic when referring to the US’s responsibility. There is no mention of the Federal Government’s actions (eliminating Sec 936, etc), or lack thereof, which have in many ways led to this crisis. However, the mere recognition of its responsibility is very good news.
3. The document’s title showcases its weakness: “Roadmap for Congressional Action”. Most of the specific proposals made are excellent, BUT THEY ALL REQUIRE CONGRESSIONAL ACTION. Everyone in D.C., including the President, knows that this Republican Congress does not get anything done. The House can’t even choose its own Speaker. To give Puerto Rico hope by putting in the hands of Congress the entirety of our immediate future is unjust.
4. The President and the Executive Branch don’t need to wait for Congress’s intervention, they have more than ample powers and tools at their disposal to act immediately on our situation. This plan reminds me of President Obama’s stance on immigration reform. For over 6 years he said that only Congress could act, only to take matters upon himself via Executive Order. The difference is that now the President is nearing the end of his term. If he truly wants to help PR, what better time than now?!
5. Regarding the debt, the Treasury Department and the Federal Reserve Bank have ample powers to support a PR recovery without congressional intervention. This is a matter of political will. The same can be said about our healthcare issue; the Executive has ample powers to interpret the rules of Medicaid and Medicare in a fairer and more favorable way for Puerto Rico. EVEN THOUGH WE SHOULD THANK THE PRESIDENT FOR HIS PLAN, THAT DOES NOT RELIEVE HIM OF HIS RESPONSIBILITY TO ACT NOW. HE HAS THE POWER AND THE OBLIGATION TO ACT.
6. Regarding the proposed Federal Oversight Board, the “plan” gives very little detail. My initial observations are the following: if Congress were to give significantly more funds to PR, I would have no quarrels over adopting rules to control how those funds are spent. The Federal Government does this all the time through its agencies and dependencies. Nonetheless, if we are talking about an entity appointed by Congress to supervise the Government of PR, let’s be clear about the fact that we’re talking about Congress’s “plenary powers” over Puerto Rico. My stance on this has been clear: if its powers are plenary, then our 72-billion-dollar debt is also their debt. This legislative proposal again treats us like a mere territory. By taking this route, at the end, they will have admitted that the debt is also theirs. (I believe that this only is what will get them moving and finally act; them realizing that by not doing anything they expose themselves to the risk that a court might eventually tell them that the “territory” of Puerto Rico’s debt is also the US Government’s debt.)
To summarize, what has been presented to Congress is a significant step forward. We must certainly applaud it, but not go out celebrating just yet. We begin to see signs of movement but there is a long, long way to go