Another month, another government default. Puerto Rico has failed to pay a $58 million debt payment, even though the government says the missed payment shouldn't be considered a default under the “technical definition of the term,” the Associated Press reports. The United States territory paid just $628,000 in interest but couldn’t pay the remainder. The government wants to be able to file for Chapter 9 bankruptcy protection, but the White House has no plans for a federal bailout, and the idea has no Republican support in Congress.
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