Its economy has been mired in recession for years. The public is fed up with austerity. Investors want big premiums to lend to a government deep in debt, with no ability to devalue its currency. Greece? Try Puerto Rico, the U.S. commonwealth whose long-simmering debt crisis — its $72 billion debt equals nearly 70 percent of its economic output, far more than any U.S. state — is about to come to a boil, according to an editorial in The Wall Street Journal.
Full editorial. (Subscription required.)