Following his visit to Puerto Rico in the wake of Hurricane Maria, President Trump said in an interview with Fox News' Geraldo Rivera that the island owes "a lot of money" to Wall Street and the US must "wipe out" its debt. Stepping back to rejoin a line of marchers, many of whom waved anti-Trump signs and chanted "Food for the people!".
"If you are a bondholder, you are surprised and you are no doubt wondering what he has in mind", Setser said. Trump's choice of words, which harked back to an earlier generation's euphemistic locutions about "those people", couldn't have been more heartless.
Trump's paper product flinging made for memorable visuals during his visit to the USA territory, which was ravaged by Hurricane Maria last month.
Mr Trump was also criticised for playfully lobbing paper towels into a crowd of people at a relief event later that day.
Puerto Rico has over $70 billion in public debt. And in Puerto Rico, in particular, his criticism of local people for not doing more to help themselves has struck an off note during a time of crisis. A woman held up a sign reading, "You are a bad hombre" as the president's motorcade passed a damaged part of the island.
During last year's campaign, Trump suggested the US government could address its own debt problems by renegotiating its bonds and paying less than their face value, remarks that also raised alarms in the markets.
The trip is Trump's fourth to areas battered by storms during an unusually violent hurricane season that has also seen parts of Texas, Florida, Louisiana and the U.S. Virgin Islands inundated by floodwaters and hit by high winds. Trump misstated Maria as a Category 5 hurricane; it was Category 4 when it hit Puerto Rico.
Cruz and Trump met Tuesday during Trump's visit to the storm-ravaged island. We're talking about life or death! "Everybody around this table and everybody watching can really be very proud of what's taken place in Puerto Rico".
Supplies delivered from the mainland moved at a glacial pace, especially as it took a week for President Trump to temporarily waive the Jones Act, a law that bars foreign vessels to Puerto Rico, as well as the challenges of damaged airports and seaports.
Trump had hoped to visit earlier in the week, but the White House said hard logistics in the aftermath of the storm prevented his trip.
In a statement on Tuesday, network provider AT&T Inc (T.N) praised the FCC efforts at rebuilding communications infrastructure.