President Trump is right to worry that disaster aid will end up bailing out the holders of Puerto Rico's bonds, but there are better solutions to that particular problem than cutting off disaster aid to Puerto Rico.
Sales tax revenues have recovered. Fiscal year 2019, which started in July, should be a good year thanks to Federal disaster aid. The real question though is what happens when Federal aid starts to fall.
In the wake of Hurricane Maria, there is an opportunity for Puerto Rico to reconstruct its energy infrastructure to be more resilient and efficient. However, if short-term rebuilding is prioritized over long-term restructuring, this critical window will be missed.