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Dire budget problems in cities from coast to coast mean that furloughs and layoffs of essential workers could ring in the new year. So President-elect Joe Biden will face instant, high-stakes calls for relief. 

Why it matters: Suffering municipalities say there's no way they can tackle COVID-19 and all their other problems without direct and immediate aid.

No state in America could clear the threshold right now to safely allow indoor gatherings.

The big picture: This is bad as the pandemic has ever been — the most cases, the most explosive growth and the greatest strain on hospitals. If businesses were closed right now, it would not be safe to reopen them. And holiday travel will be risky no matter where you’re coming from or where you’re going.

A COVID-19 vaccine from Oxford University and AstraZeneca is safe and produces strong immune responses in older, preliminary findings of a phase two trial published in the Lancet Thursday show.

Why it matters: Coronavirus cases are soaring in the U.S. and across the world. The findings from the study of 560 healthy adults, including 240 people aged over 70, follow Pfizer's announcement Wednesday that its vaccine is 95% effective and Moderna's data released Monday showing its version has a 94.5% vaccination success rate.

There's "credible information" that Australian Defense Force troops allegedly unlawfully killed 39 civilians or prisoners in Afghanistan, said ADF chief Gen. Angus Campbell, announcing findings of a long-awaited report Thursday morning local time.

Driving the news: The findings came after a four-year inquiry into alleged war crimes misconduct by Australian special forces that found there was evidence of war crimes. "The unlawful killing of civilians and prisoners is never acceptable," Campbell said. "Today, the Australian Defense Force is rightly held to account for allegations of grave misconduct."

Editor's note: This a breaking news story. Please check back for updates.

The United States topped 250,000 coronavirus-related deaths on Wednesday as infections soar in nearly every pocket of every state in the country, according to Johns Hopkins University data.

Why it matters: The sharp rise in the number of cases and fatalities has accelerated calls for government action. Wednesday's news exceeded infectious disease expert Anthony Fauci's March prediction in which he said "we should be prepared" that COVID-19 could kill 240,000 Americans.

President-elect Biden this week endorsed a proposal to immediately forgive up to $10,000 in student debt, with some experts arguing he could do so via executive action.

Axios Re:Cap speaks with Mike Pierce, policy director for the Student Borrower Protection Center, about Biden's plan, why it matters and what comes next.

1. Health: Pfizer says latest data shows its COVID vaccine is safe and 95% effective — Hospitals are short staffed — Infections are rising almost everywhere in the U.S.
2. Politics: Axios-Ipsos poll: Biden's rising COVID trust.
3. Economy: How consumer spending slowdown affected U.S. businesses.
4. Education: NYC will again close public schools.
5. Sports: The Tokyo Olympics look set to go ahead with fans.

As the virus surges and mass public gatherings become more perilous, our cars have become the new vehicles of political expression.

Driving the news: Automobiles plastered with images of and makeshift memorials to COVID-19 victims who died in poverty will caravan through at least 22 state capitals next week — the latest example of Americans trading in their walking shoes for a pandemic-friendly way to make their voices heard.

A federal judge in Washington, D.C., ordered the Trump administration on Wednesday to stop the expulsion of migrant children who cross the border alone — a policy enabled by a March emergency order by the Centers for Disease Control because of the coronavirus pandemic.

Why it matters: As of September, nearly 9,000 unaccompanied migrant children had been expelled because of the CDC order.

New York City's public school system will close for in-person learning beginning Thursday after coronavirus positivity rates in the city topped 3%, according to Mayor Bill de Blasio.

Why it matters: The city, which is staring down a second coronavirus wave after being the world's epicenter for the pandemic earlier this year, previously boasted having more students physically in classrooms than nearly any other locality in the country, per the New York Times.

Nancy Pelosi (D-Calif.) was re-elected Wednesday to serve as House Democrats' leader, preserving her role as the key Democratic player in Congress and solidifying her power alongside a future Biden administration.

Why it matters: Pelosi's re-election, which took place remotely via voice vote, sets her up to be re-elected as speaker in January and follows a disappointing election for House Democrats, who lost several seats, undercutting the party's major gains from the 2018 midterms.

The Trump campaign said on Wednesday that it plans to file for recounts in two Wisconsin counties — a state Joe Biden won by more than 20,600 votes, per AP.

The state of play: According to the Milwaukee Journal Sentinel, Trump paid the $3 million needed for a recount in Milwaukee and Dane counties — two of the most liberal counties in the state. The recount must start no later than Saturday and finish by Dec. 1.

Israel is drafting a strategy for engaging with the incoming Biden administration on Iran, two Israeli officials tell me.

What they're saying: “We don’t want to be left out again," Israeli Foreign Minister Gabi Ashkenazi told the Knesset foreign relations committee in a classified hearing last week. He said Israel had to avoid the mistakes that left it isolated as the Obama administration negotiated the 2015 Iran deal.

A group of Republican senators led by Tom Cotton (R-Ark.) sent a letter to President Trump this week urging him to issue an executive order allowing goods produced in the Jewish settlements in the West Bank to be labeled “Made in Israel." Axios obtained a copy of the letter.

Why it matters: While the rest of the world views the settlements as illegal under international law and not part of Israel, the Trump administration has taken several steps intended to legitimize them and blur the differentiation between Israel and the West Bank.

Plenty of garbage startups have been funded over the past decade, including a couple of outright frauds — and tech innovation doesn't always move as linearly as we'd like, or replicate the future as imagined by TV scriptwriters.

Yes, but: While startups and their investors were being bashed on social media, at least a few of them were laying the building blocks for technologies that could help let humanity recover its ability to work, play and spend time with loved ones.

Growing amounts of cash are pouring into electric vehicle development that is underway via startups and legacy players.

What's new: A report out this morning indicates GM will be announcing an expanded strategy to take on Tesla, plus the U.K. electric van and bus company Arrival announced it is going public.

Pfizer said on Wednesday that its coronavirus vaccine is 95% effective and has no serious side effects.

The state of play: The company said they have enough safety data now and plan to request an emergency use authorization from the Food and Drug Administration "within days."

The Federal Aviation Administration on Wednesday cleared Boeing's 737 MAX to fly again in the U.S. — 20 months after the plane’s worldwide grounding.

Why it matters: A pair of fatal plane crashes laid bare the gross oversight and safety lapses on the part of Boeing and the FAA. The fallout led to the resignation of top executives — including Boeing's CEO — a criminal investigation, and the company’s biggest financial hit in its centurylong history.

The cash value of President-elect Biden's normality will be tested next year with a bookstore battle among Washington journalists who are competing to capture 46's backstory, inside skinny and cast of characters.

What's new: Axios has learned that Ben Schreckinger, a long-form writer who works the "Biden Inc." beat at Politico, has signed a deal with prestige publisher Twelve to write a Biden family book aimed for the second half of 2021.

Democrats and Republicans both want to rein in perceived abuses by Silicon Valley, but a Tuesday Senate hearing to grill Facebook CEO Mark Zuckerberg and Twitter CEO Jack Dorsey showed the two parties operating in mirror universes.

Why it matters: The distance between the parties' diagnoses of the tech industry's trespasses makes it harder than ever to imagine how they might find common ground to pass the meaningful new tech legislation they both say they want.

Apple announced a new program Wednesday under which it will take a smaller 15% cut from App Store sales for businesses earning less than $1 million selling their apps, rather than the standard 30% cut.

Why it matters: Apple is under fire from some critics over its rigid App Store policies that require developers to use Apple payment systems for both app sales and in-app payments in exchange for a cut of sales.

Coronavirus cases and hospitalizations are at new peaks, cities and states are weighing second lockdowns, and flu season is upon us — but we're all looking the other way.

Why it matters: Pandemic fatigue has set in and the nation has collectively stopped caring just in time for the holiday season. This Thanksgiving could be catastrophic for public health.

In the past two weeks, 83% of U.S. counties have seen their coronavirus cases increase, by an average of 156%.

Why it matters: This county-level map shows a more granular level of detail than our weekly state map, and makes clear that infections are soaring in almost every pocket of every state, in every region.

America's defense contractors aren't celebrating Joe Biden's victory. They haven't accepted defeat yet, but they are digging in for budgetary battles.

Why it matters: The biggest companies in the military-industrial complex tend to see increasing revenues only under Republican presidents.

Americans‘ trust in Joe Biden to provide accurate information about the coronavirus has grown across the board since his election win, according to the latest installment of the Axios-Ipsos Coronavirus Index.

Between the lines: It's the first time Biden won the trust of more than 50% of Americans since the poll started asking the question in August. But with the exception of Democrats, who are with him already, he still has room to grow.

The Israeli Air Force conducted air strikes Tuesday night on Syrian army and Iranian Quds Force targets near Damascus — hours after several improvised explosive devices were discovered on the Israeli side of the border in the Golan Heights.

Why it matters: Tuesday marked the second time in three months that explosive devices were discovered on the Israeli side of the border. Israel claims Iran's Quds Force is using pro-Iranian militias and local Syrian operatives to open a front with Israel in the Golan and engage in attacks on Israeli forces.

The Food and Drug Administration announced in a post Tuesday night that it has issued an emergency use authorization for the first COVID-19 test for self-testing at home — and it returns rapid results.

Why it matters: Coronavirus cases, hospitalizations and deaths from the virus are accelerating across the U.S. This rapid home test could help reduce testing delays.

President Trump announced on Twitter Tuesday night that Christopher Krebs, the head of the Department of Homeland Security’s Cybersecurity and Infrastructure Security Agency, had been fired effective immediately.

Why it matters: Krebs, who is responsible for securing voting technology, has drawn bipartisan praise for his handling of the election and debunking of misinformation. Reuters recently reported he expected to be fired after he pushed back against false claims that Democrats "rigged" the election, a claim that Trump has heavily promoted.

The Wayne County Board of Canvassers struck a last-minute compromise on Tuesday night to certify local election results, backpedaling on a tactic that could have delayed official approval statewide.

Why it matters: The board's Republican members voted earlier Tuesday to block certification, in a move that President Trump celebrated on Twitter. The reversal is a blow to Trump and his GOP allies who have sought to delay or block President-elect Joe Biden's victories in a number of jurisdictions, mostly through failed legal action.