Former CBO Chief Douglas Holtz-Eakin Says Congress Will Address Puerto Rico’s Problems
Former Congressional Budget Office Director Douglas Holtz-Eakin says Congress is trying to figure out how to address Puerto Rico's debt issues.
Douglas Holtz-Eakin, former director of the Congressional Budget Office and president of the think tank American Action Forum offered insights on a range of economic issues at the Milken Institute's 2016 Global Conference in Los Angeles. Holtz-Eakin said Congress will ultimately put together legislation to address Puerto Rico's debt issues but how to deal with the different classes of debtors is the key issue and will take some time. To tackle income inequality, raising the minimum wage is not the answer. And whoever the next president is, they will have to work on boosting current economic growth above two percent. TheStreet's Rhonda Schaffler has details from Los Angeles.
