A large part of it is due to political corruption, with underlying kickbacks and payoffs . Most of which involved investors who were off-island. Debt skyrocketed in the 70's when the government used bond investment money to balance its budget ( I am not a finance guru, but apparently not a solid plan ). Add to that the cycle of devastating natural disasters, i.e. Hurricnae Maria. There is a lot of blame to pass around, and I truely do not know if statehood vs. independence vs. staus-quo is the answer. I am in Puerto Rico right now, awaiting the arrival of my new grandson who is due any day. The people here are truely wonderful, but the economic strain is wearing on their resolve.