(The Center Square) – After an Independence Day question on his social media platform, the world’s richest man offered Americans an alternative political party independent of Democrats and Republicans.

For North Carolinians, that means one of three criteria will have to be met before the America Party – or any other creations – can be officially recognized for purposes of being on the ballots.

Musk, a 53-year-old space and automotive industry phenom, served Republican second-term President Donald Trump in the Department of Government Efficiency. Reviews were mixed. On Friday, the 249th celebration of the Fourth of July, Musk asked on social media, “Independence Day is the perfect time to ask if you want independence from the two-party (some would say uniparty) system! Should we create the America Party?”

His poll, he reported the next day, was 2-1 in favor and he wrote, “Today, the America Party is formed to give you back your freedom.”

Registration with the Federal Election Commission would be necessary on the national level.

For recognition by the North Carolina State Board of Elections, as outlined in the General Statutes, the three ways involve the options of a party’s voters getting at least 2% of the entire vote cast in the most recent general election; signature petition of at least 0.25% of all registered voters who voted in the most recent gubernatorial election; or a group of voters showing documentation the group had their candidate on the general election ballot in 70% of the states (35) in the most recent presidential election.

The first and third of those are moot at this point; the America Party was not in existence for the 2024 cycle. In fact, Musk was a significant campaign piece for Trump.

For petitions, they must be filed with the state board before noon on June 1 of the year of the election the party wishes to participate in. There’s also a stipulation that, so that counties can verify, the signatures must go to them 15 days before being due to the state. That’s May 16.

The 2025 cycle is known as municipal elections in the state, and 2026 is the midterms – second-longest ballot of the four cycles for the state. The America Party could get into place for next year.

Last year’s governor’s race drew 5,591,547 votes among Democrat Josh Stein, Republican Mark Robinson, Libertarian Mike Ross, Vinny Smith (Constitution Party) and Wayne Turner (Green Party). A quarter of 1% would be 13,979 (rounded up).

More than once, Musk reposted a question on party platform that listed reduce debt, responsible spending only; modernize military with artificial intelligence/robotics; pro tech, accelerate to win in artificial intelligence; less regulation across the board but especially in energy; free speech; “pro natalist,” a form of pronatalism or belief in human reproduction and a high birth rate; and centrist policies everywhere else.

Among other posts through the weekend from Musk, estimated Monday morning by Forbes at more than $405 billion, was one that included the following:

• Tesla will never succeed.

• Elon can’t start a space company.

• Neuralink will never work.

• SpaceX will never reuse a rocket.

• Elon can’t run a social media.

Three political parties lost recognition through the last cycle and North Carolina has four recognized today. Alphabetically, they are the Democratic Party, the Green Party, the Libertarian Party, and the Republican Party.

By registrations through Saturday, those unaffiliated (more than 2.8 million, or 38.3%) have the largest bloc, followed by Democrats (2.3 million, or 30.6%), Republicans (nearly 2.3 million, or 30.4%), Libertarians (only 45,986, or 0.6%) and Green (just 4,024, or 0.05%).

(The Center Square) – At least 69 people are dead and 51 are missing as a result of the July 4 flash flood event in Texas Hill Country, Gov. Greg Abbott said at a news  conference Sunday night.

There are 59 confirmed deceased and 11 missing from Camp Mystic, in Kerrville and Kerr County, Abbott said. In the Central Texas area, there are confirmed 10 additional people deceased. Statewide, in all areas affected by flooding, there are 41 known missing.

But it’s unknown how many remain missing. Abbott said it was important to clarify that “there were so many people who were just camping out – not children in camps – but adults camping out near the river, people in RVs and things like that,” who are missing. “There are people who are missing, who are not on the known, confirmed missing because we don’t yet know who they are,” he said.

Authorities are involved in ongoing searches “throughout the entire river system to find anybody who may be missing,” he said. Abbott also called on members of the public to contact local Kerr County officials if they believe they know someone is missing who was camping in the area.

“Please contact the local officials in Kerr County and let them know that you have the name, identification and other information about a person who is suspected to be missing,” he said. “Call only if you have specific information,” otherwise calls could slow emergency response efforts, he said.

The state has deployed more than 1,500 personnel and more than 925 vehicles and equipment assets across 20 state agencies in response to the flood event.

Expected dangerous weather conditions continue, Abbott also warned, adding that “life threatening danger over the next 24 to 48 hours” exists. Flash flooding could occur in the regions of “the Big Country, Concho Valley, Central Texas and Kerrville,” he said.

“There are still public safety issues and lives to be saved in Kerr County, and all of these regions,” he said.

He urged Texans to remain vigilant and stay off the roads.

Texas Department of Public Safety Colonel Director Freeman Martin said three people have been reported missing in Williamson County, one has been recovered; the fire chief and a 17-year-old female are missing in Burnet County.

At least six people are confirmed dead and 17 are reported missing in Travis and Burnet counties as a result of flood waters, authorities confirmed to the Dallas Morning News.

Recovering operations are ongoing for everyone including “every single one of the children who were at Camp Mystic, as well as anybody else,” Abbott said. After visiting what’s left of the camp, he said, “it was nothing short of horrific to see what those young children went through.”

“We know that parents and families, they want information, they want closure, and we want them to know that we are working as swiftly as possible to get them accurate information that will provide that closure,” Abbott said.

More than 850 people have been rescued, the majority by the Texas Military Department.

Texas National Guard helped rescue/evacuate 525 people, 366 by air and 159 by ground; 20 were in San Sabo County and five in Burnet County, Texas Military Department Adjutant General Major General Thomas Suelzer said.

One single U.S. Coast Guard officer rescued a record 165 people.

U.S. Coast Guard rescue swimmer Petty Officer Scott Ruskin “directly saved an astonishing 165 victims in the devastating flooding in central Texas,” Department of Homeland Security Secretary Kristi Noem said. “This was the first rescue mission of his career and he was the only triage coordinator at the scene. Scott Ruskin is an American hero. His selfless courage embodies the spirit and mission of the USCG.”

The Trump administration is supporting recovery efforts, including the president already approving a major disaster declaration authorizing FEMA assistance.

(The Center Square) – President Donald Trump’s plan to create a sovereign wealth fund that’s the world’s envy remains undefined.

In the meantime, Norway’s Government Pension Fund Global is among the largest in the world, with more than $1.8 trillion in assets. 

In February, Trump told Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick they had 90 days to present him with a plan for a sovereign wealth fund. That time has passed and no plans have been released. 

“Treasury and Commerce Departments have formulated plans for a Sovereign Wealth Fund, but no final decisions have yet been made,” White House spokesperson Kush Desai said. 

Ana Nacvalovaite, a sovereign wealth funds research fellow at the University of Oxford’s Kellogg College, said the fund’s appearance depends on the details, including funding mechanisms, investment strategies, fund structure, and governance.

Nacvalovaite noted that relatively little information is known about the U.S. plans for a sovereign wealth fund. However, she said many other countries have established funds that the U.S. could follow, but the U.S. will likely face challenges.

Saudi Arabia’s Public Investment Fund, with $925 billion in assets, was established by royal decree in 1971. That could be one roadmap, but America has a different culture and government.

“There is a huge difference between a fund run by a country … where the Royals rule everything, versus an American system where it doesn’t quite work that way,” Nacvalovaite said. 

Another question that remains unanswered is how the administration would seed the fund and whether it would need help from Congress, which traditionally allocates federal revenue. The U.S. has $36.2 trillion in debt and hasn’t had a surplus budget since 2001. The White House noted in February that the U.S. government holds about $5.7 trillion in assets. The administration said the U.S. holds far more in natural resources.

Trump also is bringing in new revenue through tariffs. Just how much that generates could vary based on the final terms of trade deals the White House initially hoped to complete by July 9. Tariffs are taxes on imported goods paid to the federal government by the company that imports the goods.

In Norway, the government declared it owned all offshore oil in the North Sea in 1963. Much of the money in the Government Pension Fund Global now comes from a mix of investments, including stocks and real estate. The fund reports it owns nearly 1.5% of total shares in the world’s publicly listed companies.

Most SWFs don’t report everything, which could raise concerns in the U.S.

“Any state-owned investment vehicle must have a focused mandate and a highly transparent and accountable governance structure,” Adnan Mazarei, Anna Gelpern and Edwin M. Truman wrote in a report for the Peterson Institute for International Economics after Trump’s executive order.

Nacvalovaite said some SWFs share more information publicly than others.

“Let’s not forget that there are some sovereign wealth funds which are not transparent,” she told The Center Square.

Four months ago, Bessent said the U.S. would have a fund “within the next 12 months.” That timeline could prove challenging. 

Control in the U.S. would almost certainly be an issue. Some nations assign the task to a central bank or government agency. 

Norway’s Ministry of Finance has overall responsibility for the fund. It also issues management guidelines. Norges Bank manages the fund. 

Norway’s government gets some of the money to spend.

“The Norwegian government can spend only a small part of the fund, but this still amounts to almost 20% of the government budget,” according to the bank.

On average, the Norwegian government spends only the returns – estimated to be around 3% per year – not the fund’s capital.

The report from Peterson Institute for International Economics said the proposal carries risks, especially in absence of more information

“Without much greater clarity and a broadly shared understanding on these issues, a US SWF risks becoming a misplaced fiscal gimmick and an inefficient and potentially corrupt diversion of public resources that could do long-term damage to the US and global economy and financial markets,” it concluded.