Hurricane Irma is being watched closely as the storm, expected to make landfall in the Caribbean Tuesday, has strengthened to a Category 3 hurricane. Reuters reports that Puerto Rico has declared a state of emergency, activating the National Guard and freezing prices on basic necessities such as water, food, and medicine. "Despite the economic challenges Puerto Rico is facing, the approved budget has $15 million for the emergency fund," Puerto Rico Governor Ricardo Rossell said in a statement. The latest on Irma: