Puerto Rico To Default On Debt Payment Monday

03:44

May 02, 2016

People protest outside of Wall Street against cutbacks and austerity measures forced onto the severely indebted island of Puerto Rico on December 2, 2015 in New York City. Puerto Rico made a $355 million payment on Tuesday on its bond debt to stave off a default. Officials have warned that the commonwealth's fiscal position remain dire. (Spencer Platt/Getty Images)

Puerto Rico's Governor Alejandro Garcia Padilla says that his government will not be able to make the more than $400 million in bond payments that are due today. The country is in the midst of a financial crisis and Congress is weighing whether to intervene. Here & Now's Jeremy Hobson talks with Jill Schlesinger of CBS News about whether the crisis could impact the U.S.

Guest

Jill Schlesinger, business analyst with CBS News and host of “Jill on Money.” She tweets @jillonmoney.

This segment aired on May 2, 2016.