Yes, being a state would solve some of these fiscal issues. It's even been discussed for the past few years that this debt situation might be the thing that pushes Puerto Rico to actually become a state.

The major problem is that Puerto Ricans don't actually want to become a state. In the various referendums, the majority generally goes for status quo, followed by statehood, followed by independence. In 2012, the referendum was more or less connived to produce a vote for statehood (it was structured as two questions, the first "status quo or not" and the second "state, free association, or complete independence"). There's apparently another referendum scheduled in a month, but I've not found any polling on what the likelihood of success for statehood is in that referendum.