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<ul class="summary-list"><li>China has announced a local government debt rescue program days after Trump won the US election.</li><li>Trump has threatened tariffs of 60% on Chinese goods, complicating China's economic gloom.</li></ul>China announced a debt rescue program to the tune of $1.4 trillion to save heavily indebted local governments and boost its economy.China's Standing Committee of the National People's Congress — its top legislative body — approved 6 trillion Chinese yuan to refinance local governments' hidden debt over three years, according to <a target="_blank" class="" href="http://politics.people.com.cn/n1/2024/1108/c1001-40357125.html">Xinhua state news agency.</a>Hidden debt refers to off-balance sheet liabilities issued by local government financing vehicles, or LGFV, to finance infrastructure investment.The plan also allows local governments to tap 4 trillion yuan in special local bonds over five years.The announcement came after the legislative body met from Monday to Friday.China's local governments have been struggling to repay their LGFV debt, which the <a target="_blank" class="" href="https://www.imf.org/en/Publications/CR/Issues/2024/08/01/Peoples-Republic-of-China-2024-Article-IV-Consultation-Press-Release-Staff-Report-and-552803">International Monetary Fund</a> estimated to be around 60 trillion as of last year. It's another risk to China's economy, which has been struggling with a <a target="_blank" rel="noopener" href="https://www.businessinsider.com/china-real-estate-property-market-speculation-debt-crackdown-xi-jinping-2023-8?utm_medium=ingest&amp;utm_source=markets">property crisis,</a> deflation, and high youth unemployment.Reuters reported last week that China's top legislative body was considering a plan to raise $1.4 trillion in extra debt over the next few years to fund part of an economic rescue package.As early as Monday, Chinese Premier Li Kiang drummed up market expectations for more <a target="_blank" class="" href="https://www.businessinsider.com/china-economy-li-qiang-fiscal-stimulus-market-sentiment-us-election-2024-11">economic stimulus</a>, saying Beijing has "ample space for fiscal policy and monetary policy."The bumper stimulus came on the heels of Donald Trump's victory in the US presidential election earlier this week, which is likely to change Washington and Beijing's trade relationship.A China hawk, Trump has pledged to slap <a target="_blank" rel="" class="" href="https://www.businessinsider.com/what-us-economy-would-look-like-with-trump-biden-presidency-2024-5?utm_medium=ingest&amp;utm_source=markets">a 10% to 20% tariff</a> on all imported goods. He has threatened tariffs of 60% on goods imported from China.This would put further pressure on China's economy, which is still trying to recover following nearly three years of pandemic curbs.In late September, China rolled out <a target="_blank" rel="" href="https://www.businessinsider.com/china-economy-aggressive-monetary-stimulus-interest-rate-rrr-2024-9?utm_medium=ingest&amp;utm_source=markets">aggressive stimulus</a> that boosted sentiment and spurred a bull run in the stock markets. However, analysts say that Beijing still needs to do more to drive consumption.If Beijing's latest stimulus disappoints, it may be in part due to China's own policy conflicts between its socio-political and economic objectives and the constraints, Vishnu Varathan, Mizuho Bank's chief economist of Asia excluding Japan, wrote in a note a week before the debt rescue announcement.Notably, China may be still holding back to avoid one thing: "the optics of over-reacting to US elections," wrote Varathan.

China just announced an $1.4 trillion plan to rescue its local governments

<ul class="summary-list"><li>Spain's eastern province of Valencia was hit hard by intense flooding last week.</li><li>The government has pledged $11 billion to help it recover, but local authorities want $34 billion.</li></ul>Spain said it will give about $11 billion to help restore Valencia after flash floods hammered the province last week — but local authorities there want three times that amount.Historic, deadly flash floods — brought about by torrential rainfall — hit the area last week, killing at least 211, regional emergency services <a target="_blank" class="" href="https://x.com/GVA112/status/1853698255730942163">said</a> on Wednesday.Spain's State Meteorological <a target="_blank" class="" href="https://www.businessinsider.com/spain-flooding-51-dead-in-valencia-region-economic-hub-2024-10">Agency</a> said last week that it was the province's most severe storm since 1987.During a press conference on Tuesday, Spanish Prime Minister Pedro Sánchez said his government had <a target="_blank" class="" href="https://x.com/sanchezcastejon/status/1853796678265938374">approved</a> $11.55 billion in loans and grants to help storm and flood victims.However, a day earlier, the province's president, Carlos Mazón, <a target="_blank" class="" href="https://x.com/carlos_mazon_/status/1853555363678728545">said</a> local authorities had asked for an initial package equivalent to about $34 billion."The measures will serve to rebuild, relaunch, and mitigate the effects" of the storm, Mazón told reporters.<div type="image" title="Satellite images of the Valencia province before and after flash floods on October 25, 2022 (left), and October 30, 2024 (right)." height="480" width="640" msid="114986283" hostid="261" sizebytes="62758"></div>On Saturday, Valencia's Chamber of Commerce <a target="_blank" class="" href="https://www.camaravalencia.com/noticias/informe-sobre-danos-provocados-por-la-dana-en-los-municipios-mas-afectados-y-consecuencias-sobre-la-actividad-economica/">estimated</a> that up to 4,500 businesses had suffered notable damage, with potentially 1,800 severely impacted.The floods affected many economic sectors, including agriculture, industry, and services, it said.Automaking remains Valencia's most <a target="_blank" href="https://www.investinspain.org/en/regions/comunidad-valenciana/industrias-destacadas?#nameRegion">important industry</a>.Cristina del Rey, the communications director for Ford Spain, told BI last week that her company's Valencia plant had not suffered direct damage from the floods but was shut on Wednesday and Thursday.According to a <a target="_blank" rel="noopener noreferrer nofollow" class="c-link c-link--focus-visible" href="https://fundacionaon.es/wp-content/uploads/2022/11/BAROMETRO-DE-CATASTROFES-2021.pdf">report</a> from the Aon Spain Foundation, a private foundation that works to prevent and assist with natural disasters, the annual cost of natural disasters in Spain between 2016 and 2021, including floods, was between $940 million and $2.5 billion.Local authorities on Sunday <a target="_blank" class="" href="https://x.com/GVA112/status/1853692672327721128/photo/1">said</a> that the heavy rains — part of a phenomenon known as "cold drops" — had caused "unprecedented" damage to infrastructure and human life.The provisional death toll put it among the most serious natural disasters in Western Europe in recent years. Widespread flooding in July 2021 killed more than 200 people in Belgium, Germany, and surrounding countries.At a <a target="_blank" class="" href="https://x.com/i/broadcasts/1ynJODVpRdXxR">press conference</a> on Tuesday, Sánchez declared Valencia a disaster area, paving the way for extra funding for local authorities.He said about 15,000 soldiers and police officers had been dispatched to the province, as well as 287 forest brigaders, around a hundred customs officers, 44 forensic physicians, and 600 specialized vehicles for pumping, cleaning, and supplying the affected areas.Sánchez added that 98% of affected households now had power, and about 25 miles of roads and 46 miles of railway tracks had been repaired."We must continue working with more resources, more coordination, and greater effort until normality returns to all the municipalities and to all the homes affected by this tragedy," he said.

Counting the cost of Spain's hellish floods, the government pledged $11B, local officials want $34B

The <keyword id="19897865" type="General" weightage="20" keywordseo="telangana-government" source="keywords">Telangana Government</keyword> on Tuesday requested the 16th <keyword id="20015455" type="General" weightage="20" keywordseo="finance-commission" source="keywords">Finance Commission</keyword> to increase the share of states in <keyword id="386992" type="General" weightage="100" keywordseo="central-taxes" source="Orion">Central taxes</keyword> from the existing 41 per cent to 50 per cent as over the years cesses and surcharges that are not shared with states have increased. Deputy Chief Minister in-charge of Finance <keyword id="21396591" type="General" weightage="20" keywordseo="bhatti" source="keywords">Bhatti</keyword> Vikramarka in his speech at the meeting with Finance <keyword id="19933395" type="General" weightage="20" keywordseo="commission" source="keywords">Commission</keyword> Chairman <keyword id="20016026" type="General" weightage="20" keywordseo="arvind-panagariya" source="keywords">Arvind Panagariya</keyword> and members also urged the finance panel to ensure that states are given the necessary autonomy to tailor <keyword id="20109166" type="General" weightage="20" keywordseo="css" source="keywords">CSS</keyword> (centrally-sponsored scheme) programmes to their specific development needs. "In addition, we propose increasing the share of states in Central taxes from 41 per cent to 50 per cent. Over the years, cesses and surcharges that are not shared with states have increased, leaving states with a smaller share of total gross tax revenue," he said. Increasing the vertical devolution will give states the fiscal space they need to strengthen welfare programmes, address infrastructure gaps and prioritise local development, he further said. He, however, said it is not just a demand for <keyword id="19909031" type="General" weightage="20" keywordseo="telangana" source="keywords">Telangana</keyword> but for all states, ensuring a more cooperative federal structure that will benefit the nation as a whole. Bhatti further said the state government urges the Finance Commission to reconsider the use of per capita income distance as the primary indicator in determining horizontal devolution as measuring prosperity and well-being solely by per capita income would deny Telangana the resources needed to address the inequities that exist within the state. The state government is suggesting that the formula for horizontal devolution be modified to add at least a 50 per cent weightage to <keyword id="20149362" type="General" weightage="20" keywordseo="gsdp" source="keywords">GSDP</keyword> (gross state domestic production) contribution. "A greater weight on GSDP would incentivise states to adopt reforms that improve productivity, attract investment and create jobs, ultimately contributing to the national economy. This approach would not only make states more competitive but also help reduce regional disparities, encouraging more balanced growth across the country," he opined. Pointing out that certain expenditures for schemes such as Rythu Bharosa, farm loan waivers and food subsidies are often mislabelled as "freebies," he urged the Commission to recognise these programmes as necessary investments in the welfare of our people. He mentioned that a large part of the state's resources is now being diverted toward debt servicing and hence requested the Finance Commission's support in either restructuring this debt or providing additional assistance to help free up resources for further development. The 16th Finance Commission, led by its chairman Arvind Panagariya, held meetings with several political parties, representatives of local bodies and industry chambers here on Monday as part of its visit to Telangana.

Telangana urges 16th Finance Commission to increase states' share in Central taxes to 50%

Luxury car maker <keyword id="19980471" type="General" weightage="20" keywordseo="Mercedes-Benz" source="keywords" meta.keywordsubtype="org" meta.entityname="Mercedes-Benz" meta.hostid="261" meta.entityid="Mercedes-Benz">Mercedes-Benz</keyword> India on Monday expanded its <keyword id="20763359" type="General" weightage="20" keywordseo="Battery-Electric-Vehicle" source="keywords">Battery Electric Vehicle</keyword> (BEV) range in the country with the launch of the locally produced <keyword id="23188212" type="General" weightage="20" keywordseo="EQS-580-4MATIC" source="keywords">EQS 580 4MATIC</keyword>. India is the first country outside the US to start the <keyword id="20805504" type="General" weightage="20" keywordseo="local-production" source="keywords">local production</keyword> of the seven-seater electric SUV. EQS SUV 580 4MATIC is the second model, after the EQS sedan, to be locally produced at company's Pune-based manufacturing plant. "This will be our sixth EV in India, and the second car to be locally produced in India. We are also proud that India becomes the first market out of the US to locally manufacture the EQS," Mercedes-Benz India Managing Director and CEO Santosh Iyer told PTI in an interaction. The move to manufacture the product locally outlines the company's commitment to electrification and increasing product portfolio offering choices to customers, he added. "EQS SUV's localisation underpins our deep commitment to grow the Indian <keyword id="23188213" type="General" weightage="20" keywordseo="luxury-electric-car" source="keywords">luxury electric car</keyword> market and reinforce our commitment for a greener and sustainable future," Iyer said. The move also supports the government's vision of Make-in-India, he said. Iyer said local production has led to a significant advantage in terms of pricing the electric SUV. The introductory price of EQS SUV 580 4MATIC starts at Rs 1.41 crore which should also make a lot of customers shift to EVs much faster in terms of transition, he said. When asked about the demand for green vehicles, Iyer said the sales of EVs were growing in the country with even high-end products finding acceptance. "The EQA sedan which was introduced in India around 18 months back, we have sold more than 500 cars. It's a car costing more than Rs 1.6 crore. Our total penetration of EVs is 5 per cent today, it's growing. For sure, customer acceptance is there," he stated. Iyer noted that the company remains committed to offer top-end luxury EV products offering higher range in the market. He noted that there may be more opportunities in the entry EV segment but the focus of the company firmly remains on bringing luxury products in the market. "To bring products at lower price points, that is not our current strategy," Iyer said. The company aims to offer products with higher driving range, a factor that leads to bigger battery and escalation in price, he added. The EQS SUV 580 4MATIC is India's longest range electric SUV with ARAI certified range of 809 kms. Iyer said the company remains committed to the Indian market and has announced an additional investment of Rs 200 crore earlier towards manufacturing operations, new product start-ups and digitisation of manufacturing processes. The company till date has invested over Rs 3,000 crore in India, he added. In the January-September period this year, Mercedes-Benz India has launched three new BEVs ' EQA, EQS SUV 580 and Mercedes-Maybach EQS 680 SUV. With the EQS SUV 580 4MATIC, the company now offers the EQA, EQB, EQE SUV, EQS SUV, EQS sedan and Maybach EQS SUV 680 in the market. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/webstories/arkade-developers-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/113384216.cms">Arkade Developers IPO – Price band to risk factors, all you need to know</a> <a href="https://www.businessinsider.in/tech/mobile/news/xiaomi-and-samsung-accused-of-colluding-with-amazon-and-flipkart/articleshow/113381204.cms">Xiaomi and Samsung accused of colluding with Amazon and Flipkart</a> <a href="https://www.businessinsider.in/tech/mobile/news/motorola-edge-50-neo-with-dimensity-7300-50mp-camera-launched-in-india/articleshow/113386868.cms">Motorola Edge 50 Neo with Dimensity 7300, 50MP camera launched in India</a>

Mercedes expands BEV range; rolls out second locally produced model in India

The former <keyword id="19935584" type="General" weightage="20" keywordseo="RSS-chief" source="keywords">RSS chief</keyword>, <keyword id="23419565" type="General" weightage="20" keywordseo="Subhash-Velingkar" source="keywords">Subhash Velingkar</keyword>, recently stirred significant controversy by demanding a <keyword id="20615498" type="General" weightage="20" keywordseo="DNA-test" source="keywords">DNA test</keyword> on the relics of <keyword id="23459102" type="General" weightage="20" keywordseo="St-Francis-Xavier" source="keywords">St. Francis Xavier</keyword>. Velingkar claims that the test would confirm the authenticity of the remains, but his statement has triggered protests and condemnation from Goa’s <keyword id="19935795" type="General" weightage="20" keywordseo="Catholic-community" source="keywords">Catholic community</keyword>, who view it as a direct affront to their faith. This article will explore the significance of St. Francis Xavier in Goa, examine the implications of a DNA test, and review the political and social reactions to Velingkar's statement. <h2>St. Francis Xavier in Goa</h2>St. Francis Xavier, one of the most venerated Catholic saints in the world, arrived in Goa in 1542 as a Jesuit missionary. He played a crucial role in establishing Christianity in Goa and spreading it across Asia. Known for his compassion and selfless dedication, he is affectionately referred to by Goans as “Goencho Saib” (Protector of Goa). <div type="Article" hostid="261" msid="112672114" title="“Please do not photograph our homes!” plead Goa’s homeowners" mstype="2" mssubtype="0"></div>His relics, preserved at the Basilica of Bom Jesus in Old Goa, draw millions of pilgrims from across the globe. The relics are especially significant because, every ten years, they are publicly displayed during the Exposition, a major religious event that unites the community in faith and reverence. <h2>What is a DNA test, and what could it prove?</h2>A DNA test involves analysing genetic material to establish relationships, origins, or identity. DNA testing on human remains can reveal biological data such as ancestry, possible familial connections, or genetic characteristics. In this case, Velingkar’s call for a DNA test is ostensibly aimed at verifying whether the relics truly belong to St. Francis Xavier. However, such a test would be challenging because it would require preserved genetic material, which might not be feasible — although doable under the right conditions — after nearly 450 years. The main issue is that without direct descendants or known relatives, a DNA test would have limited capacity to “prove” the relics' authenticity definitively. Many Goans argue that such a test is unnecessary, given the historical and religious context of the relics and the deep spiritual significance they hold. <h2>Protests across Goa and political fallout</h2>Velingkar’s remarks have provoked a backlash, with protests erupting across Goa. Demonstrators in Margao and Canacona have voiced their anger, demanding Velingkar be arrested for offending their <keyword id="19978801" type="General" weightage="20" keywordseo="religious-sentiments" source="keywords">religious sentiments</keyword>. At these gatherings, local leaders have condemned his statements, arguing that he is attempting to provoke divisions in Goa’s harmonious society. Some have also called for Velingkar to undergo psychological evaluation, questioning his motives and the wisdom of his demand for a DNA test. While Chief Minister Pramod Sawant has assured the public that legal action will be taken, some community members remain sceptical, perceiving a lack of urgency. The Congress party has criticised the BJP-led state government, accusing it of neglecting the issue to avoid alienating potential voter bases. <div type="Article" hostid="261" msid="111809476" title="Why is a music festival causing controversy in Goa?" mstype="2" mssubtype="0"></div>The controversy has also cast a spotlight on the BJP’s stance toward the Catholic community, particularly considering how the state was mum for an exceedingly long time on their intentions to invite Pope Francis to the upcoming Exposition. This hesitation and the ongoing controversy has compounded frustrations among Goans, leading to questions about the government’s respect for religious diversity in the state. Goa’s history is marked by religious tolerance and a unique blending of cultures. The Catholic Church has played a pivotal role in maintaining peace and fostering unity across different communities in the state. By calling for a DNA test on the relics of a beloved saint, many argue that Velingkar risks jeopardising this delicate balance. Religious leaders have warned against divisive rhetoric, underscoring that Goa’s strength lies in its ability to maintain harmony among its diverse population.

Goa protests: Why is an ex-RSS chief demanding to DNA test the body of a 450-year-old sacred saint?

<keyword id="23188764" type="General" weightage="100" keywordseo="World-Tourism-Day-2024" source="Orion">World Tourism Day 2024</keyword> is celebrated every year on September 27 to show how important tourism is for the world. It focuses on how tourism helps bring people together, supports the economy, and shares cultures. This year <keyword id="22517201" type="General" weightage="20" keywordseo="World-Tourism-Day" source="keywords">World Tourism Day</keyword> is focusing on the connection between tourism and world peace. The United Nations is highlighting the importance of understanding different cultures and promoting sustainable tourism. <h2>History of World Tourism Day</h2>World Tourism Day has been celebrated on September 27 since 1980. This date marks the anniversary of when the Statutes of the UN's tourism organisation were adopted in 1970, an important step for global tourism. The timing of the day is perfect as it falls at the end of the busy travel season in the northern hemisphere and the start of the season in the southern hemisphere. In October 1997, the <keyword id="19949373" type="General" weightage="20" keywordseo="UNWTO" source="keywords" meta.keywordsubtype="org" meta.entityname="UNWTO" meta.hostid="261" meta.entityid="UNWTO">UNWTO</keyword> decided to have a different host country each year to partner in celebrating World Tourism Day. This day is important for raising awareness of how tourism affects social, cultural, political, and economic values around the world. <h2>Host country for this year</h2>In 2024, Georgia, a country known for its rich history, culture, and beautiful landscapes, will host World Tourism Day. Located between Eastern Europe and Western Asia, Georgia offers a unique mix of cultures. It is famous for its ancient churches, wine regions, and stunning mountains. Tourism in Georgia has been growing quickly, drawing millions of visitors from around the world. With its scenic beauty, Georgia is the ideal place to showcase how tourism promotes peace and cultural exchange. <h2>Theme for this year</h2>The theme for World Tourism Day 2024 is "<keyword id="23301034" type="General" weightage="20" keywordseo="Tourism-and-Peace" source="keywords">Tourism and Peace</keyword>." Tourism plays an important role in promoting peace by bringing people from different cultures together and helping the economies of host countries. As people travel and experience new cultures, it leads to more understanding and tolerance. Tourism can break down barriers and build strong connections between nations. It also helps local communities by creating jobs and encouraging sustainable practices, which supports peace and prosperity in the long run. <h2>Indian Government initiatives to promote tourism</h2>The Indian government is working to improve tourism with several initiatives and schemes. Some key efforts include: E-Visa Facility: Nationals from 167 countries can now apply for e-visas online under seven categories, like e-Tourist and e-Business visas. The fees have been lowered to make travel more affordable. Swadesh Darshan Scheme: Started in 2014-15, this scheme creates theme-based tourist circuits across India. By 2023-24, 73 projects have been completed, with a total investment of ₹5,294.11 crore. Swadesh Darshan 2.0: This updated scheme focuses on developing 57 destinations across 32 states and Union Territories for integrated tourism development. PRASHAD Scheme: Aimed at improving infrastructure at pilgrimage sites, 46 projects have been approved so far, with ₹1,621.13 crore set aside for their development. SEE ALSO: <a href="https://www.businessinsider.in/travel/international/webstories/world-tourism-day-2024-exploring-the-10-most-peaceful-countries-on-earth/slidelist/113590691.cms" data-type="tilCustomLink" target="_blank">World Tourism Day 2024: Exploring the 10 most peaceful countries on Earth</a>

World Tourism Day 2024: All about the theme, host country, and tourism-boosting initiatives

<ul class="summary-list"><li>Hurricane Helene battered rural mountain towns in North Carolina, a key voting bloc for Trump.</li><li>Some analysts and candidates expect turnout to be lower in the region as people rebuild.</li></ul>Three weeks after Hurricane Helene ravaged western North Carolina, hundreds of roads and bridges <a target="_blank" href="https://www.ncdot.gov/news/press-releases/Pages/2024/2024-10-14-ncdot-hurricane-helene-recovery.aspx">remain damaged or closed</a> and tens of thousands of residents still don't have running water. Many are displaced after losing their homes and businesses, while others are still clearing out muck and debris.With many Helene survivors still in the thick of recovery, especially residents of rural mountain towns, political analysts and candidates told Business Insider they expect turnout to be lower in the state's western region. The <a target="_blank" href="https://projects.fivethirtyeight.com/polls/president-general/2024/north-carolina/">latest polls</a> show that former President Donald Trump and Vice President Kamala Harris are neck-and-neck, and North Carolina remains a critical battleground state for either candidate's victory."Voting is not the top priority for a whole lot of people right now," said Chris Cooper, a political science professor at Western Carolina University. "Even among the most committed voters. If they don't have drinkable water, their priorities have shuffled. So I expect voter turnout to be down in the most-affected counties."Cooper said his home was largely spared by Helene, but some family members who live in Asheville temporarily relocated to South Carolina. That includes his dad, who had planned to vote early and in-person but now must request a mail-in ballot.Early voting began in North Carolina on October 17, and <a target="_blank" rel="noopener noreferrer" class="c-link" href="https://www.ncsbe.gov/news/press-releases/2024/10/18/north-carolina-sets-turnout-record-first-day-early-voting">state election officials said in-person turnout topped a previous record set in 2020.</a> At the county level, state election officials told BI that comparing this year's numbers to 2020 wouldn't be accurate due to several caveats, including that the absentee-by-mail voting period started two weeks earlier in 2020 than it did this year.The rural mountain areas of North Carolina previously favored Trump. He won North Carolina by less than 75,000 votes in the 2020 presidential race, with strong support in areas outside urban centers. That included 11 of the 13 counties hardest-hit by Helene. The two exceptions were Buncombe County, where Asheville is located, and Watauga County.<div type="image" title="A man stands near a home with a Trump 2024 campaign sign as he coordinates relief in Lake Lure, North Carolina, on October 2, 2024 after Hurricane Helene." height="683" width="1024" msid="114380742" hostid="261" sizebytes="122340"></div>The Democrats aim to flip <a target="_blank" href="https://www.cnn.com/election/2020/results/state/north-carolina">historically red</a> North Carolina, seeing a path in the rapidly growing suburban areas like Charlotte, Raleigh-Durham, and Fayetteville. Harris is trying to win over Black and college educated voters, as well as women who oppose the state's <a target="_blank" href="https://www.plannedparenthood.org/planned-parenthood-south-atlantic/patients/health-care-services/abortion-services/nc-abortion-faqs">restrictive abortion law</a>. But the aftermath of Helene has become a political lightning rod, with Trump attacking the Biden administration's response.<h2 id="b6b2ed09-6d41-465a-9740-c901aa87fc11">Officials say North Carolinians know the importance of voting</h2>The traditional ways to reach people, such as door knocking and social media, aren't as accessible because of the destruction and spotty internet service. This has made it difficult for campaign staff to canvas and combat rumors.Trump has spread disinformation, telling attendees at a campaign rally that Harris stole Federal Emergency Management Agency (FEMA) disaster relief funding and spent it on housing for migrants. He also wrote on <a target="_blank" class="" href="https://truthsocial.com/@realDonaldTrump/posts/113227266617485932">Truth Social</a> that the federal government and Gov. Roy Cooper, a Democrat, were going out of their way to not assist Republican-leaning areas.The Biden administration and some GOP politicians have debunked the claims, including Rep. Chuck Edwards, a Republican who represents North Carolina's 11th district, which was devastated by Helene.Edwards told BI that he's been working around the clock to connect survivors with the resources they need. He <a target="_blank" href="https://edwards.house.gov/media/press-releases/debunking-helene-response-myths">issued a statement on October 8</a>, after being inundated with emails and calls from people upset about unfounded rumors."I was getting calls from people around the country who wanted to send personnel, equipment, and water, but worried it wouldn't make it to the right location because of the rumors," Edwards told BI. "Primarily, that FEMA was confiscating supplies and turning people away. There is absolutely no truth to that."Edwards added that even though folks are busy putting their lives back together, they understand that an important election is right around the corner. They are motivated to get out and vote for Trump, he said."They remember what our lives were like the day before the storm," Edwards said, pointing to inflation, oil prices, and a crisis at the Southern border.Edwards' competitor, Rep. Caleb Rudow, is a Democrat who represents Buncombe county in the state legislature. He's been canvassing and posting <a target="_blank" href="https://x.com/CalebRudow/status/1846144971256057972">on social media</a>, talking about the importance of this election, particularly after Helene.Rudow said the state needs elected officials who want to solve the climate crisis, which is fueling more intense hurricanes. He also told BI that the relief work by state, local, and federal officials after Helene has shown the power of government in the wake of a disaster.Rudow added that people are resilient, and part of recovery is getting life back to normal. That includes talking about these issues and voting.Even so, people who've lost their homes and loved ones probably aren't thinking about voting, said Bob Phillips, executive director at Common Cause North Carolina, a voter rights group. But it's hard to predict how Helene will affect turnout.North Carolina election officials made emergency changes to expand voting access for residents recovering from the storm."Helene will be a part of this election, and we'll just have to see what the drop off is," Phillips said.Were you impacted by Hurricane Helene and want to share your voting story? Contact cboudreau@businessinsider.com.

Rural North Carolinians are key for Trump's election chances in the swing state. Hurricane Helene upended their lives.

<ul class="summary-list"><li>Elon Musk is calling for deregulation and spending cuts to make the government more efficient.</li><li>The billionaire's mindset echoes previous efforts to run the US government like a business.</li></ul><a target="_blank" class="" href="https://www.businessinsider.com/elon-musk">Elon Musk</a> is on a mission to make the US government more efficient, touting deregulation and decreased spending in public appearances as he <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-trump-cabinet-election-x-2024-9">courts a role</a> in a potential second Trump administration.The billionaire evangelized about efficiency during a live appearance at the All-In podcast Summit in Los Angeles on Monday, suggesting he would draw on his business acumen to slash federal spending if chosen as the <a target="_blank" class="" href="https://www.businessinsider.com/trump-adopts-elon-musk-plan-cut-government-spending-efficiency-reform-2024-9">head of Trump's would-be government efficiency commission</a>."We do have an opportunity to do a once-in-a-lifetime deregulation and reduction in the size of government," Musk said at the summit appearance about a potential <a target="_blank" class="" href="https://www.businessinsider.com/donald-trump-wants-elon-musk-on-his-cabinet-2024-8">Trump win</a>.But two political scientists told Business Insider that Musk's desire to <a target="_blank" class="" href="https://hbr.org/2017/03/the-u-s-cannot-be-run-like-a-business">run the US government like a private business</a> — an approach many private sector professionals have supported for decades — isn't as foolproof as the CEO might think.Musk did not respond to a request for comment.<a target="_blank" href="https://www.businessinsider.com/elon-musk-donald-trump-feud-relationship-timeline-2022-7">Musk has done a 180</a> in his support for Trump. The billionaire endorsed Hillary Clinton in 2016, but after Trump won, accepted a role on two of the then-president's economic advisory councils. He later departed the administration, citing Trump's environmental policies.But since Musk officially endorsed Trump in July, he's repeatedly <a target="_blank" class="" href="https://x.com/elonmusk/status/1834104386303520822">posted</a> on X about the need for government efficiency."The idea that you can run the entire government as a business, it's just not designed that way," said Patricia Crouse, a practitioner in residence of political science and public administration at the University of New Haven. "You have to work around our system of federalism."Trump, a businessman turned politician, based much of his first presidential campaign on the notion that his <a target="_blank" class="" href="https://www.washingtonpost.com/news/politics/wp/2017/03/27/trumps-idea-to-run-the-government-like-a-business-is-an-old-one-in-american-politics/">experience in the private sector</a> would guide his approach to politics.While perhaps misguided, both experts said it's not an entirely unfounded line of thinking. According to the academics, the government is inefficient in many ways, and accusations that federal agencies waste time and money are not always unwarranted.But the push to make the government work more like a business <a target="_blank" class="" href="https://www.businessinsider.com/cost-efficiency-isnt-best-measurement-government-policy-2022-6">misunderstands a fundamental element</a> of US federalism — profit is not the end-all, be-all, political science experts said."Government is almost always more inefficient than the private sector because their motives are just different," said Christian Grose, a professor of political science at the University of Southern California.<div type="image" title="Al Gore and Bill Clinton stand at a podium holding a government report" height="1460" width="2921" msid="113345808" hostid="261" sizebytes="110754"></div><h2 id="7c8addd5-408c-4950-b159-3797e89f7a84">Profit vs. Protection</h2>Efforts to privatize parts of the US government date back decades. The modern-day push for a business-like government has its roots in <a target="_blank" class="" href="https://www.businessinsider.com/theres-a-big-difference-between-reaganomics-and-trumponomics-2017-3">Reaganomics</a>, the economic policy put forth by President Ronald Reagan in 1981, which reduced regulation, slashed government spending, and scaled down the federal workforce.The other side of the aisle took a similar approach in 1993 when then-Vice President <a target="_blank" href="https://www.businessinsider.com/im-a-recovering-politician-and-wont-run-for-office-again-al-gore-2022-7">Al Gore</a> launched the Reinventing Government initiative, which attempted to streamline government processes and minimize bureaucracy.Former President George W. Bush also had a business background, making his pre-presidency fortune in the Texas oil industry. Once in office, Bush cut regulations with his Faith-Based and Community Initiative, which sought to outsource some social services to faith-based groups.Grose said the pro-business mentality is present in local and state government, too, adding that private sector professionals often run gubernatorial races on such platforms.Political experts said it makes sense that business leaders like Musk would see only inefficiency and wastefulness in the government's operations."In the private sector, the motive is profit. The less efficient you are, the less profitable you are," Grose said. "But inefficiency in the private sector isn't the same."The <a target="_blank" class="" href="https://www.businessinsider.com/privitizing-public-goods-healthcare-education-doesnt-work-opinion-2022-1">government's job isn't to make money,</a> but to regulate and keep people safe."Sometimes that's not efficient in an economic sense," Grose added.Consider, too, that the government and businesses serve very different stakeholders, Grose said. CEOs have to answer to stockholders and a board of directors — the president has to answer to every American in the country.<div type="image" title="Elon Musk and donald Trump sit at a table" height="2200" width="3300" msid="113345810" hostid="261" sizebytes="236978"></div><h2 id="77ff06c1-a7ce-42dd-87ed-6be17fc49a6d">The pitfalls of privatized government</h2>Crouse said the consequences could be dire if Trump and Musk are able to make massive cuts to federal agencies."If you decide you want to run the government entirely like a business, you're going to see things like poverty and <a target="_blank" class="" href="https://www.businessinsider.com/us-job-market-unemployment-rising-federal-reserve-interest-rate-cut-2024-7">unemployment</a> increase because it becomes every man for himself," Crouse said.For all of its faults, the federal government has a fail-safe of sorts, thanks, in part, to its massive size, Crouse said. She added that outsourcing critical government services to private companies runs the risk that those services could disappear if the company went bankrupt."A business isn't really self-correcting, at least not as easily as government is," Crouse said.Crouse said that privatizing the federal government could also lead to increased corruption, pointing to the <a target="_blank" class="" href="https://www.businessinsider.com/private-prisons-lobby-for-their-own-existence-2016-8">for-profit prison industry</a> as one example. In 2008, two Pennsylvania judges were convicted of <a target="_blank" class="" href="https://apnews.com/article/crime-trending-news-government-and-politics-6f30f575dc739415af1e5b47b1be50f0">accepting money in return</a> for sending kids to private detention centers to increase occupancy."Businesses are out to make a profit, so they're going to do what they can to increase profits, and if the consumer gets hurt in the process of doing that, well, that's all a part of business," Crouse said.Beyond the logistical issues associated with a business-like government, Grose said he was skeptical of the sentiment at the heart of Musk's comments earlier this week, casting doubt on whether a second Trump presidency would result in "once-in-a-lifetime" deregulation.While Trump did engage in <a target="_blank" class="" href="https://www.businessinsider.com/wall-street-dodd-frank-deregulation-bill-trump-gop-obama-legacy-2018-5">some deregulation</a> during his first term, Grose said he didn't behave like a traditional business Republican, citing his tariffs and tax cuts, the latter of which helped the <a target="_blank" class="" href="https://www.propublica.org/article/national-debt-trump">national debt surge.</a>"It's not obvious to me that he is a massive budget cutter based on past experience," Grose added.Both Crouse and Grose also expressed hesitation about taking business advice from Musk, pointing to the <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-looks-like-he-is-destroying-x-intentionally-2023-11">breakdown of Twitter, now X</a>, after the billionaire bought the site in 2022.Ultimately, however, both said the 235-year-old federalism that governs America simply isn't equipped to handle the pressures faced by private businesses."My fear is that it would collapse," Crouse said.

Elon Musk's ideas about government efficiency are all wrong, political scientists say

<ul class="summary-list"><li>Florida gas stations are running out of fuel ahead of Hurricane Milton's landfall.</li><li>If the storm damages Port Tampa Bay, it could mean long-term trouble for the gas supply chain.</li></ul>A day before <a target="_blank" class="" href="https://www.businessinsider.com/hurricane-helene-milton-tampa-florida-desantis-clean-disaster-dangerous-2024-10">Hurricane Milton</a> was expected to make landfall, gas stations in Florida were already running out of fuel.As of 8 p.m. local time on Tuesday, more than 1 out of 5 gas stations in Florida had no gas, according to data from <a target="_blank" class="" href="https://x.com/GasBuddyGuy/status/1843805604768559279">GasBuddy</a>, which tracks gas prices.The shortage comes as millions of people try to flee Florida in anticipation of Milton, leading to long lines at gas stations and traffic jams. The hurricane is <a target="_blank" class="" href="https://www.businessinsider.com/hurricane-milton-timeline-see-storm-evolution-from-space-satellite-imagery-2024-10">expected to hit Florida's Gulf Coast</a> on Wednesday or Thursday and pass through the state's central area, including Tampa Bay and Orlando.Shon Hiatt, director of the Business of Energy Transition Initiative at the University of Southern California's Marshall School, told Business Insider that gas is distributed to Central Florida through Port Tampa Bay — and having just one major source of fuel complicates efforts to get gas to people who need it."In this case, <a target="_blank" class="" href="https://www.businessinsider.com/hurricane-milton-category-four-storm-real-estate-market-insurance-damages-2024-10">Florida is extremely vulnerable</a> because they don't have any other pipelines, so it's almost like an island," Hiatt said.In a Tuesday press conference, Florida Gov. Ron DeSantis said that the state's reserves include 110,000 gallons of gasoline and 268,000 gallons of diesel fuel, with trucks on the way to refill diminished reserves in areas in the storm's path, <a target="_blank" class="" href="https://www.cnn.com/2024/10/08/business/hurricane-milton-florida-gasoline-shortages/index.html">CNN</a> reported."There is no fuel shortage," CNN reported DeSantis said. "Fuel continues to arrive to the state of Florida. But lines at gas stations have been long and gas stations are running out quicker than they otherwise would."Christopher Tang, a UCLA professor and scholar of supply chain management, told BI that the problem is compounded by the sheer number of people filling up their tanks, as the fuel supply cannot keep up with demand.Tang said gas tankers on roads could also be stuck in traffic jams, which would require government coordination to address before the situation becomes too dire."If it's very serious, then the National Guard may need to help out to deliver some of the gas," Tang said.All the experts who spoke to Business Insider said if there is lasting damage to the port, it could impact access to gas in Central Florida for weeks — if not months — after the <a target="_blank" class="" href="https://www.businessinsider.com/hurricane-milton-category-five-threatens-florida-fema-funding-2024-10">hurricane</a>. Hiatt said the state could get gas in other ways, besides the port's pipeline, via truck or rail, but that it would likely result in inflated fuel prices."But again, it's all about the infrastructure. So are the railroads clear? Is the debris gone? That's to be determined," Hiatt said. "Everyone's saying this could be this a hundred-year event where it could be the worst since the 1840s, when a massive hurricane hit and completely changed the geography of Tampa."Patrick DeHaan, an analyst for GasBuddy, echoed Tang and Hiatt's concerns, adding that people facing empty gas stations are getting increasingly desperate for fuel — which would be compounded if the port is damaged in the <a target="_blank" class="" href="https://www.businessinsider.com/hurricane-milton-airlines-waive-change-fees-cap-florida-fares-2024-10">storm</a>."It would be hugely problematic if there was significant damage to the port," DeHaan told Business Insider. "And that's what we're kind of waiting to see. Will it be extensive damage? Will the Coast Guard be able to open the port again? Will the shipments of gasoline be able to go into the port? Because if the port's down for a decent amount of time, even more than a few days, it's going to be significantly problematic."

Florida's gas stations are running out of fuel and Hurricane Milton could have lasting impacts on the state's supply

<ul class="summary-list"><li>A new model of public housing is gaining steam among Democratic lawmakers across the US.</li><li>AOC is behind a new bill to create a federal social housing developer.</li></ul>All over the country, skyrocketing rents and home prices have made housing one of the most urgent issues facing voters in this election.About half of renters <a target="_blank" class="" href="https://www.businessinsider.com/half-american-renters-ignore-key-financial-rule-on-housing-spending-2024-9">spend more than 30% of their income on housing</a>, while <a target="_blank" class="" href="https://www.businessinsider.com/housing-crisis-homeowners-struggling-mortgage-interest-rates-insurance-home-equity-2024-6">homeowners</a> are facing rising insurance premiums, home repair costs, and property taxes. At the same time, government housing aid for the neediest <a target="_blank" class="" href="https://www.nytimes.com/2023/12/19/us/politics/housing-aid-rent-costs.html">recently hit a quarter-century low</a>.Vice President Kamala Harris has zeroed in on the issue, <a target="_blank" class="" href="https://www.businessinsider.com/how-kamala-harris-plans-to-build-3-million-new-homes-2024-8">promising to</a> build 3 million new homes over her first term, send $25,000 in downpayment assistance to first-time homebuyers, and spend billions on housing innovation. But some progressive lawmakers in Washington want to go much farther.In September, two Democrats — Rep. Alexandria Ocasio-Cortez and Sen. Tina Smith of Minnesota — <a target="_blank" class="" href="https://www.businessinsider.com/aoc-democrats-build-european-style-social-housing-lower-home-costs-2024-9">introduced a bill called the HOMES Act</a> that would create a federal housing development authority charged with building and rehabilitating more than a million permanently affordable homes. The housing would be owned and operated by local governments, nonprofits, or some kind of cooperative, and rent would be capped at a percentage of income. The legislation aims to solve the fundamental issue plaguing homebuyers and tenants: a shortage of affordable homes."There has been a lot of talk about building new housing in this country, but too often we don't talk about who will be building that new housing," Ocasio-Cortez said <a target="_blank" rel=" nofollow" class="" href="https://x.com/SenTinaSmith/status/1836472272481386676">last month</a>. A spokesperson for Ocasio-Cortez didn't provide comment before publication of this story.The new developments would be so-called "social housing," which means it exists outside the for-profit market, caps rent at a percentage of income and is owned by the government, a nonprofit, or some kind of cooperative.Unlike traditional American public housing, which is usually reserved for low-income families, social housing is intended to be mixed-income. Under the HOMES Act, 70% of a given development's units would be reserved for low- and extremely low-income people, while 30% of homes would be reserved for people making up to the area's median income.But some pro-housing policy experts — who subscribe to the YIMBY, or Yes in My Backyard, movement — are skeptical that a federal social housing authority makes sense. They want to see more experimentation at the local level first and don't think many state governments — let alone the federal government — have the resources or know-how to do the work of developers and real estate companies.<h2 id="56639616-796e-430b-a657-ba434db7f258">Local and state governments are experimenting with social housing</h2>A 2022 trip to Austria changed how New York State Assemblywoman Emily Gallagher views housing.Gallagher, a Democrat who represents gentrifying neighborhoods in North Brooklyn, was struck by the stability created by social housing in Vienna. Residents "were not thinking about their rent getting raised. They were not worrying about being displaced and the things that consume New Yorkers' minds," she said.So, earlier this year, she introduced legislation to establish a new state housing authority tasked with building permanently affordable housing for both very low-income and middle-income New Yorkers.Progressive policymakers across the country, including Rhode Island and Atlanta, are exploring the model, too. California <a target="_blank" class="" href="https://leginfo.legislature.ca.gov/faces/billTextClient.xhtml?bill_id=202320240SB555">passed a bill</a> last year to study the concept. The wealthy DC suburb of Montgomery County, Maryland, <a target="_blank" class="" href="https://www.nytimes.com/2023/08/25/business/affordable-housing-montgomery-county.html">has already built its own</a> social housing.In Reno, Nevada, Mayor Hillary Schieve, who's prioritized housing in a state facing a severe shortage, argued that the success of a social housing effort would likely rely on the quality of the local housing authority and the partners it works with. "It just worries me because we aren't developers," she said. "You have to have very knowledgeable people at the table."While "high-capacity, wealthy local governments with political will" can make it happen, "Jenny Schuetz, an expert in urban economics and housing policy at the Brookings Institution, said many other localities lack the resources or know-how."The reality is many states and authorities are not going to be interested in building housing themselves," said Shane Phillips, a housing researcher at UCLA's Lewis Center for Regional Policy Studies.Unlike traditional public housing — which relies on fickle federal lawmakers to supply funding for maintenance and operations — the social housing that US lawmakers have proposed would be funded in part by marketing bonds and operated by a range of local organizations, including nonprofits and tenants unions.Schuetz is concerned that co-ops and tenants' unions might not be able to tap the kinds of capital that real-estate companies have access to and that's needed to continue investing in the buildings. Local housing authorities also have limited budgets. "The challenge is always where do you come up with the money 10 years out, 15 years out, when you have real capital expenses?" she said.<h2 id="3c31ea6f-abfe-4e31-af57-7237875ee96a">Tricky politics in Washington</h2>Federally funded public housing has a flawed history. Between the 1930s and the 1960s, the government <a target="_blank" class="" href="https://www.npr.org/2017/05/03/526655831/a-forgotten-history-of-how-the-u-s-government-segregated-america">reinforced racial segregation</a> by clustering public housing in poor Black and brown neighborhoods, even as it built highways <a target="_blank" class="" href="https://www.nbcnews.com/specials/america-highways-inequality/">that tore through those same communities</a>. A lack of ongoing congressional funding meant the housing deteriorated over time, and much has been demolished.Over the last several decades, the US has moved away from the tarnished model of publicly built and owned housing and embraced federal subsidies for privately built below-market-rate development powered by the Low-Income Housing Tax Credit.Under the Homes Act, the US Department of Housing and Urban Development would have to work with states and cities to take on the role of the developer. Schuetz argued that the federal government would have to outsource so much of the work to local governments and developers that a national approach would look pretty similar to the Low-Income Tax Credit model of development."Could HUD even hire a team of people who know how to work through the land development and entitlement and construction process in localities around the country?" Schuetz said. "There's a reason we've evolved from public housing to LIHTC."Congress would likely not support a federal social housing authority until there is evidence of its success at the state level.After states build out their programs, "it's far easier to go back and say, 'Okay, we need a national coordination entity to manage this,'" one national affordable housing expert, who requested anonymity to protect his relationships in Congress.Schuetz would also like to see HUD invest in a range of local pilot programs to experiment with different versions of social housing, evaluate them, and then help scale whichever model is most successful. "It's not as headline-grabbing and sexy as a social housing program, but would actually be a lot more effective and more likely to get through Congress," she said.

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