Trump Denies North Carolina FEMA

I’ve been advocating for months now that you need to be prepared for what’s happening politically and financially. Chaos creates political instability, which leads to financial instability, and we’re seeing that every single day. Trillions have been lost in the stock market—more than $6 trillion, I believe. Some of that bounced back, but then we saw losses again yesterday. This chaos is going to affect our pocketbooks one way or another. Just ask North Carolina, as they are denied assistance from FEMA (Federal Emergency Management Agency).

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The Left Pays the Same Price as Those on the Right

Another point I’ve been emphasizing endlessly is that it doesn’t matter what side of the political aisle you’re on. Whether you’re in a red state, blue state, or purple state, whether you’re a Republican, Democrat, or Independent, this will affect you. It doesn’t matter what your politics are. You are paying the same price for eggs as I am.

We’re both going to face the same 25% tariffs on cars and other goods. China’s tariffs are at 140% now, but the impact is the same for all of us. Regardless of politics, economics affect us all equally.

I’ve repeatedly said that preparing for this is unique to each individual. Your situation is different from mine. This isn’t about getting stock advice or focusing on a specific investment. It’s about recognizing that what works for one person may not work for another.

Everyone in North Carolina is Paying the Price Because of FEMA

Here’s an example from this morning on how people in North Carolina could find themselves thousands of dollars in debt, with no way to avoid it. This highlights why it’s so important to analyze your situation and ask, “What could possibly go wrong?”—a classic Murphy’s Law approach. Preparing for potential issues is crucial.

Take my own experience with hurricanes as an example. When Hurricane Helene hit, it completely totaled my wife’s car. It should have also totaled my camper, but due to an insurance company mishap, it didn’t. At the time, I had already paid out of pocket for a car down payment, and I couldn’t bear the idea of having to do it again for a camper. I wasn’t in the mood to take on more debt, especially with a recession looming.

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Initially, I planned to buy an RV topper, but I changed my mind. At the time, it was $9,000, but with tariffs, it had jumped to $12,000. Instead, I decided to stick with an $80 cover and let it go as far as it could, worrying about it later. Even so, I ended up in more debt because of Hurricane Helene.

Between the totaled car, the down payment costs, and the camper situation, it added up quickly. And that wasn’t all—there were additional damages. I had to pay $1,000 to get trees removed, fix the well, and handle other repairs. In total, I was out three to four grand, easily.

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Luckily, FEMA reimbursed me for some of the expenses because the insurance company didn’t cover everything. You still have to meet the deductible, which I can manage, but there’s more to be done. For example, I need to spend about $1,500 to fix my steel shed roof. That expense isn’t the main concern—what’s really on my mind is whether or not we should relocate. We’re unsure if this is the right time, given the uncertainty surrounding real estate and mortgage interest rates.

I’ve also been thinking about the possibility of my wife relocating since she’s in corporate America. On the surface, it wouldn’t be a big deal, but if her company starts making cutbacks, the first person in would likely be the first person out. That’s why I’ve said we need to wait. But waiting means not spending the $1,500 to fix the roof, even though I dislike how it looks. The roof of the steel shed garage is functional, and it’s keeping water out, but it’s not ideal.

Then there’s the camper issue. To shift back to FEMA, I did get reimbursed for certain expenses, which was helpful. You have to wonder, though, how many people were in similar situations, dealing with property damage or staying in hotel rooms.

Our neighbors had to stay in a hotel room, and they were moved repeatedly because the rooms were already reserved. I think they were moved seven times in nine days. Their house had significant damage, and FEMA stepped in to help during those situations. But as we know, President Trump wants to get rid of FEMA. In North Carolina, the governor requested an extension for residents to file FEMA claims, but the Trump administration denied it.

Now, imagine I live in North Carolina, and I’m out $4,000. I’m hoping to apply for FEMA assistance, and I have valid reasons—like not having a home, staying at a hotel, eating out expenses since I can’t cook inside the hotel room, and other urgent concerns. But without the extension, those claims won’t go through. With hurricane season just a few months away, if another hurricane damages my house or car, or I have to knock down another tree, FEMA likely won’t help.

That leaves the state as the next option, but state resources are limited. They might provide some assistance, but it won’t be much. And then there’s the insurance companies. Home insurance, which is already a disaster in Florida—the highest in the country—will become even more problematic. Without FEMA to offset costs, people will likely file additional claims for personal property and other damages. This will force insurance companies to raise premiums, impacting everyone.

In North Carolina, you can see the issue clearly. The Trump administration denied the extension for FEMA claims, leaving people in a tough spot. Let’s say I got into $4,000 debt because of hurricane damage. How quickly could I pay that off in a year?

Getting into Debt is Easy, Getting Out Isn’t

If I could put $350 a month toward my credit card, I could manage it in a year. But here’s the problem I’ve been highlighting all along: as everything else gets more expensive, we’re forced into more debt.

For example, if you bought a car to avoid tariffs, that might add an extra couple of hundred dollars to your monthly expenses. Now, if I’m already paying $350 to cover hurricane-related debt and add $200 for the car, that’s $550 more per month. What if student loans kick in, adding another $200? Now we’re at $750. And inflation? Prices for essentials like eggs haven’t gone down. Nothing is getting cheaper.

Supposedly, the Trump tariffs are expected to cost households an additional $3,000 to $4,000 annually. Let’s say that translates to $300 more per month. Now I’m at $1,000 extra per month. Where am I supposed to find an additional $1,000 in income? Do I need a side hustle? How do I cut $1,000 from my budget? Most people don’t have that kind of luxury to trim. It’s nearly impossible to break even.

And that’s the problem—just like that, you’re in a financial bind. The question becomes: how can you reduce that liability? What can you do? I’ve seen people turn to an old concept that’s making a comeback: staycations. Social media is full of people saying they’re canceling trips and staying home instead. It’s a sign of the times.

I know people in retail who’ve noticed customers returning items, and when asked why, they say they’re concerned about the economy. Now isn’t the time to take on more debt or spend more money. I feel the same way—I’m not buying the RV topper, I’m not relocating, and I’m not fixing my garage yet. But if another hurricane hits, I can’t count on FEMA for the extra $2,000 or $3,000 that would make a big difference for me.

By the way, North Carolina voted for Trump all three times, and this is just another example of why you have to be prepared. We haven’t fully felt the pinch yet, but we will. It’s still mid-April, and Trump hasn’t even been in office for three months. What about three months from now? What about six months? The financial pinch is coming.

The only thing you can do is figure out your situation. Sit down, write it out, and look at all the angles. Then revisit it the next day—did you miss anything? Come back again the day after that—did you miss another angle? Keep refining your plan and try to cover as many angles as possible.

Unfortunately, it feels like trying to patch up a dam with cracks everywhere—putting one finger here, another there, and another, just to keep it from bursting. If you don’t manage to cover all the cracks, you risk falling into debt that’s too overwhelming to handle, potentially leading to bankruptcy.

Now, FEMA has denied federal aid to Arkansas following the deadly tornadoes in March.

Note: the latest budget proposal by Republicans has $0 set aside for FEMA.

Updated on June 7, 2025.

The fact that Acting FEMA Director David Richardson didn’t know that hurricane season exists, I don’t feel any more confident that FEMA will be ready for the next disaster.

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Please note that this transcript was edited for clarity. The transcription may contain inaccuracies or errors due to the limitations of transcription software and the quality of the audio. I have made every effort to ensure the accuracy of the transcription but cannot guarantee it.

Updated on May 2, 2025.