Puerto Ricans Flee Island at Fastest Pace Since 2004

As bad as its fiscal problems may be after a series of defaults last year, another long-term issue for Puerto Rico is a shrinking population. This year the commonwealth has seen its steepest population decline since 2004, according to U.S. Census Bureau data released on Tuesday. This week, a federal board overseeing the island’s finances warned that if it doesn’t get its fiscal house in order every remaining family will have to pay an additional $5,400 annually in taxes over the next decade to cover the swelling budget gap.

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