Of course they are. What nobody seems to be pointing out is the massive amounts of corruption that have sucked out billions upon billions of dollars that were poured into the island.
The island of Puerto Rico is broken because the society there is broken. When I left there in 2008, the fourth consecutive governor was being indicted on multiple federal charges. At this point, unless you wipe the slate clean and start over, you're not going to fix a darn thing.