Health Care

Puerto Rico mayor dons 'NASTY' T-shirt in TV appearance slamming Trump

Puerto Rico mayor dons 'NASTY' T-shirt in TV appearance slamming Trump

Among the other signs of progress Friday, according to Puerto Rico's government: 78 percent of gas stations up and running, 73 percent of supermarkets open, and more than half of bank branches open.

As expected, Puerto Rico's recovery from Hurricane Maria's destruction has been slow and painful. However, no matter how the details shake out, creditors won't be paid anytime soon.

The president said the people of Puerto Rico were "very thankful" to his administration during his visit earlier on Tuesday.

There will be time for the administration to take credit for Puerto Rico's return to normalcy.

Trump's comments were taken by some to mean that the federal government would force bondholders to forgive the island's debt, which would be a drastic and highly unusual intrusion of the government into the debt markets.

In order to get into the case, the Department of Justice would need permission from the judge overseeing the bankruptcy, U.S. District Court Judge Laura Taylor Swain.

"They had 72 billion in debt before the hurricanes hit and they had a power plant that didn't work before the hurricane so we're going to help them, we're going do something and we're going to get it back on its feet", the president told Rivera.

In an interview that aired on "Hannity" Tuesday evening, the president doubled down on his criticism of Puerto Rico's debt issues, a comment he reiterated to local officials during a hurricane briefing on Tuesday. Last Friday, the mayor appeared on television in a black shirt with white letters that read, "HELP US, WE ARE DYING".

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LaVergne also suggested that his client simply doesn't have the money, saying "As far as I know, ( Simpson ) will be a retiree". He was acquitted the following year in what was dubbed the "trial of the century".


For much of his tour, Trump remained focused primarily on drawing praise. "You're going to get millions, creating a devastating demographic shift for us here in Puerto Rico, a brain drain". Its bonds were attractive to investors across the USA because they are are exempt from federal or state income tax to residents of all 50 states.

"It may possibly be the end of the municipal bond market as we know it", Harry Fong, an analyst at MKM Partners, wrote in a note quoted by Bloomberg News.

"For the most part, Main Street America owns this debt", Long said last week. Overall, 84.6 percent of cell sites are still out, the Federal Communications Commission said.

FEMA spokesman William Booher noted that the statistics remain on a website maintained by Puerto Rican Gov. Ricardo Rosselló, which now indicates 54 percent of Puerto Ricans have access to drinking water and 9.2 percent have electricity. It was restructured by Congress a year ago in a bill that also created an control board with oversight over the island's finances.

The natural disaster destroyed homes, cut off most of the island from electricity and littered roads with fallen trees and debris.

"Failure to provide the greatest amount of federal aid and the emergency liquidity program will be potentially ruinous", the letter said. The oversight board would still be in charge of proposing a debt-adjustment plan and the judge would still have the final say over whether that plan is approved. Roughly a third of Puerto Rican tax revenue had been going to cover its debt. Mulvaney also insisted that the government would not pay off debts or bail out bondholders.

Setser said federal aid could come in the form of a Treasury Department loan issued under so-called debtors-in-possession financing.