42 sats \ 12 replies \ @Satosora 23 Jul \ on: Biden’s 5% cap on apartment rents: Washington's latest economic folly econ
Is this in DC?
Rent is out of control there!
Even the senators and representatives sleep in their office.
The President lives in the White House which is in DC but doesn't manage the affairs of DC, although in Biden's case he spends a lot of time in Delaware.
Sometimes Congress will take over the city management of DC if the mayor is arrested for soliciting a hooker or similar.
There is a movement to turn DC and Puerto Rico into states. DC cannot be a state for many reasons, mainly not constitutional.
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Why not PR? That doesn't seem any less likely than Hawaii becoming a state.
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That's hilarious, but might be true.
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The poverty rate in Puerto Rico is over 40 percent.
Like Guam, anyone born in PR is US citizen
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Yeah, that's the bigger issue. Puerto Rico can't afford to comply with the enormous regulatory burden states have to deal with.
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It's a national proposal.
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I promise that it won't help. Price controls never have and never will make things better.