A bill passed Wednesday that will help the island restructure its $70 billion in debt.
"The risks of Puerto Rico descending into chaos are very real."
The commonwealth can't make an upcoming $2 billion payment.
Obama administration officials used the release of a report on the program's finances to amplify calls to expand benefits.
Crumbling schools, a tanking economy and mass migration all plague the commonwealth.
Jack Lew visited a San Juan hospital affected by the debt crisis and urged Congress to act.
Journalist and author Cokie Roberts says that philandering liar Alexander Hamilton is still making women wait their turn to assume their rightful place on the front of American currency.
So women have waited 120 years and now, according to Secretary of the Treasury Jack Lew, they should be happy to wait a few decades more. I'm referring to Lew's reversal this week to put a woman on the front of the 10 dollar bill. But not to worry, Lew says, because the wheels are in motion for a woman to grace the front of the 5 and 20 dollar bills. Except, according to a senior administration official I spoke with, the 20 dollar bill talk is just smoke and mirrors. "Jack Lew threw in the $5 and the $20 without approval from the committee that determines currency redesign," the official told me. The truth is, my source says, the only note approved at the moment for change is the 10 dollar bill. So, given the important symbolism of our currency, how it reflects our country's values and history, what was the reason for Lew's reversal? A Broadway musical. Or at least that is what it would seem.
WASHINGTON (AP) — Treasury Secretary Jacob Lew said Monday that Americans have reaped significant benefits from the international
"There needs to be a restructuring so Puerto Rico's financial affairs can be put on a sustainable course."