Since when is $3 billion in cash relief NOT considered a bailout?

My letter to the NY Times:

Re: Senate Republicans Introduce Bill for Puerto Rico Relief

Dear Sirs:
Here’s another example of a government bill that will do exactly the opposite of its summary. Puerto Rico and bankrupt states, such as Illinois, will never reform their finances by their own volition. Allowing them to file for bankruptcy protection, as proposed by the Obama administration, would end their ability to tap the bond market and force them live within their means. It’s time to stop kicking the debt can down the road and get American government at all levels back on a sound footing.

Patrick Barron

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