SAN JUAN, Puerto Rico – Puerto Rico's governor is making a last-ditch effort to persuade a federal control board that furloughing tens of thousands of government workers would be an unnecessary blow to the U.S. territory's struggling economy.
Gov. Ricardo Rossello spoke at a Thursday news conference hours before the board that oversees the island's finances is scheduled to vote on whether to order furloughs and other measures to rein in spending by the debt-laden government, whose revenues have been strained by a 10-year recession.
Rossello says Puerto Rico has nearly $1.8 billion in cash, which he says is far more than what the board has required for avoiding furloughs. He has vowed to go to court to fight any furloughs, which he says would have a $600 million negative economic impact.