– Adam… – Thank you Sean. The President tweeted this morning about Puerto Rico begin to default on their debt May 1st,
pending some kind of solution. There are millions of investors in the United States. Senior citizens, who may not be aware
that they hold funds within munibond mutual funds that expose them to a default in Puerto Rico. Is there anything the White House should do
or the administration can do, one, to safeguard those senior
citizens and their investments and two, to prevent an increase in cost
to states and municipalities that may have to pay more to borrow when they
access the munibond market if Puerto Rico defaults? – Right. I think the issue itself is extremely
complicated in the sense that the President’s tweet and the President’s discussion revolves around
the continuing resolution to fund our government. Our government needs to get… There needs to be a continuing
resolution effective this Friday. The President has done everything possible,
worked extremely hard to with Congress to ensure that we maintain the government.
Keep the government open. The Democrats at the last minute have come in
and thrown a lot of monkey wrenches into the ability for this to get done,
despite the President doing everything that he can to show good faith
to keep this going. So it’s not just a question of…
They keep moving the goal post. And the issue right now is to make sure that we
do what’s in the best interest of this country and our people by keeping the government open. That’s the issue at hand right now.
Not a question of whether or not that can be dealt with. There are ways that that issue can be dealt with. But throwing it in in the last minute,
and trying to gum up keeping the government open is probably not the most effective way. – I understand that the CR is different.
But if Puerto Rico defaults with or without the CR, is the administration working with Puerto Rico?
– Again and I think that that is a separate issue that needs to be addressed by Congress
in terms of how it gets done. I think that the method right now is to make sure that we do everything in our power to keep
the government open effective Friday.