Trump's Remarks About Erasing Puerto Rico's Debt Jolt The Markets

Posted October 07, 2017

During the meeting, Trump said Hurricane Maria had thrown the federal budget "out of whack, ' and made light of the number of casualties, comparing it to the more deadly 'real catastrophe" Hurricane Katrina in 2005.

At his earlier briefing, Rossello said that only five percent of Puerto Ricans have power and more than half lack access to clean water.

US President Donald Trump will ask Congress for a bumper $29 billion package of emergency relief for Puerto Rico in the wake of Hurricane Maria, officials told AFP Wednesday.

Trump added Cruz was "very complimentary only a few days ago", but "has now been told by the Democrats that you must be nasty to Trump".

President Trump and Puerto Rico Governor Ricardo Rosselló listen to residents and survey hurricane damage and recovery efforts in a neighborhood in Guaynabo, Puerto Rico, Oct. 3, 2017.

The U.S. territory is in a near blackout, its electricity grid shredded by the storm that slammed into the island on Sept 20.

Puerto Rico has been mired in a deep recession since 2006. Sixteen versus literally thousands of people.

The island was recently hit by powerful Hurricane Maria and has been working to restore power and clean water to the territory.

"He kind of minimized our suffering here by saying that Katrina was a real disaster, sort of implying that this was not a real disaster because not many people have died here".

Valentine Navarro, 26, a salesman in San Juan, shrugged off Trump's trip as a public relations exercise. "Everybody is watching and we want Puerto Rico to get over this".

Wilma Colon was offended by Trump's visit to a donation center where he chucked paper towels into the crowd in a playful manner. In case you were out of the loop, any of Puerto Rico's post-Irma problems have nothing to do with the fact it's an island or had poor infrastructure beforehand. She would have you believe our president is just sitting back and letting people die as he enjoys a taco salad while tweeting from the comfort of the White House.

Trump chided Puerto Rico for interfering with the US budget - a comment he apparently found amusing - before telling locals they didn't suffer a "real catastrophe".

"Let's send a message that we all care", he said. Less than 25% of Puerto Rican debt is held by hedge funds, according to estimates by Cate Long, founder of research firm Puerto Rico Clearinghouse.

"He was insulting to the people of Puerto Rico", she said of Trump's comments that Puerto Rico threw the USA budget "out of whack".

CNN journalist and Trump's bête noire Jim Acosta said that Trump's behavior was "strange and un-presidential".