President Trump's cringe-worthy paper towel throwing gesture to Puerto Ricans

Volunteers loading relief supplies into a U Haul to be flown down to Puerto Rico and Mexico on Jay Z's Tidal plane on Oct. 6 2017

"Because we've spent a lot of money on Puerto Rico and that's fine because we're saving lives", said the 45th President.

In an interview with Fox News on Tuesday, Trump said that "we're going to have to wipe out" Puerto Rico's debt.

Puerto Rico, a US territory where residents are USA citizens, suffered a brutal double whammy from Hurricane Irma that hit September 6 and the stronger Hurricane Maria that struck September 20. "Do you have any idea how many sexy calendars we're going to have to sell just to pay for this?'" Colbert said.

Last week (Sept. 29), San Juan Mayor Carmen Yulín Cruz pleaded with the Trump administration and USA government to lend more aid. As of Tuesday, only about 5 percent of the island's customers had their power restored.

Maria - the largest storm to hit the island in 90 years - has left more than half the island's residents without drinking water, destroyed roads and infrastructure and toppled power lines. "He's sort of like a 'miscommunicator in chief, '" Cruz said.

However, in interviews Wednesday morning, Mick Mulvaney, director of the Office of Management and Budget, said the us would not bail out Puerto Rico.

The governor made the announcement at a news conference following U.S. President Donald Trump's short visit to the U.S. territory to assess the storm's impact.

Cruz was Trump's most prominent critic heading into the visit, which followed a weekend in which Trump pushed back on criticism over federal relief response and cited the "poor leadership ability by the Mayor of San Juan, and others in Puerto Rico" on Twitter.

The president and First Lady Melania Trump met survivors in the town of Guaynabo.

Trump's focus during his Tuesday visit was on the "unbelievable" and "incredible" job that his administration has done so far.

Trump's tweets and public comments on Puerto Rico have nearly all been in this vein - playing up the success of the response and guarding against the idea that it could be judged as a failure. In a joke that fell flat, he told Puerto Ricans on Monday that "you've thrown our budget out of whack".

During the meeting with officials, Trump thanked almost every other Puerto Rican leader and federal administrator for the work they'd done to aide Puerto Rico.

Trump has little power over Puerto Rico's debt, which is held by investors, but his comments affected the bond market nonetheless, Larry McDonald, head of the USA macro strategies at ACG Analytics, told CNBC.

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