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Puerto Rico Struggles With Debt Crisis03:54
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Puerto Rico Gov. Alejandro Garcia Padilla speaks during a state of the commonwealth address at the Capitol building in San Juan, Puerto Rico in April, 2013. (AP/Ricardo Arduengo)
Puerto Rico Gov. Alejandro Garcia Padilla speaks during a state of the commonwealth address at the Capitol building in San Juan, Puerto Rico in April, 2013. (AP/Ricardo Arduengo)

Puerto Rico has about $87 billion of debt — that's about $23,000 for every resident.

The island nation is a U.S. territory, but it can't declare bankruptcy.

Puerto Rican politicians are looking to raise taxes and cut pension obligations.

Guest:

    • Marty Schenker, executive editor at Bloomberg News. He tweets @mschenker.

This segment aired on October 18, 2013.

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