Mit Magzter GOLD unbegrenztes Potenzial nutzen

Mit Magzter GOLD unbegrenztes Potenzial nutzen

Erhalten Sie unbegrenzten Zugriff auf über 9.000 Zeitschriften, Zeitungen und Premium-Artikel für nur

$149.99
 
$74.99/Jahr

Versuchen GOLD - Frei

What is Elon Musk getting up to with America's payment system?

Mint Kolkata

|

February 11, 2025

On the morning of January 28th, April Mullins-Datko, the director of ADVOCAP, a social-services provider in Fond du Lac, a city of 40,000 people in Wisconsin, put in her usual request to draw down $250,000 to pay staff salaries and other expenses connected with Head Start, a federal program that provides childcare, education and food to families on low incomes.

Every other time ADVOCAP has done this, the money has arrived within 48 hours.

This time it did not. As of February 9th, ADVOCAP has received just $44,000 of the $250,000 they were expecting. To pay their workers, they have had to use bank credit. If the money does not materialize soon, they will have to begin laying off staff and shutting down their Head Start program. The result will be 202 children without services and 80 staff members without jobs.

ADVOCAP appears to be a victim of Donald Trump's seizure of the federal government's payment systems. Its money should not be missing, according to the White House. A memo that froze much government funding, issued late on January 27th, was quickly rescinded after an outcry and a court ruling. Yet ADVOCAP's money has not turned up and nobody seems able to explain why.

Ms. Mullins-Datko says she has been calling anyone she can, but "they're not responding." I've heard nothing from them." She has received only one insight: "I called the Office of Head Start central office in DC and they said, 'Oh, we're sorry. This isn't an Office of Head Start problem. This is a Treasury Department issue.'"

Guidance sent to NGOs by the National Head Start Association, which represents service providers, confirms they too have been told that the problem is with the Treasury.

That clue connects ADVOCAP's glitch to a bigger question that has roiled Washington over the past week: Exactly what has Elon Musk's "Department of Government Efficiency", or DOGE, been doing inside the Bureau of the Fiscal Service, a once-obscure but sensitive area of the Treasury? This is the part of the government responsible for paying out roughly 80% of the nearly $7 trillion that the government spends each year.

WEITERE GESCHICHTEN VON Mint Kolkata

Mint Kolkata

Mint Kolkata

How EVs came to dominate 3-W market

Of the 1.1 million three-wheelers sold in India this calender year (as of 24 November), more than 687,000, or about 60%, were electric vehicles (EVs), compared with a measly 4.1% for cars and 6.2% for two-wheelers, government data showed.

time to read

2 mins

November 26, 2025

Mint Kolkata

Mint Kolkata

1st privately built PSLV near lift-off

India's first privately built polar satellite launch vehicle (PSLV) is expected to have its maiden commercial flight before the end of the financial year, marking a giant leap in the country’s ambition to foster a private space economy.

time to read

1 min

November 26, 2025

Mint Kolkata

Mint Kolkata

Fed chair Powell's allies provide opening for December rate cut

A divided committee, missing data and a whiff of stagflation leave Powell with hard choices

time to read

4 mins

November 26, 2025

Mint Kolkata

Mint Kolkata

THE REAL TAX MATH AND LEGAL PITFALLS OF CHOOSING TO WORK AS A CONSULTANT

Many employees believe they will be financially better off working as consultants than staying on payroll, due to perceived tax savings. But how accurate is this belief, and what risks arise if an employee is reclassified as a consultant?

time to read

3 mins

November 26, 2025

Mint Kolkata

Mint Kolkata

Tata Motors PV brings back Sierra to rival Creta, Vitara

Firm revives the iconic model after 22 years to push into the crowded mid-size SUV market

time to read

2 mins

November 26, 2025

Mint Kolkata

Mint Kolkata

Sovereign Al takes off as countries try to avoid overdependence on superpowers

As China and the U.S. race to dominate artificial intelligence, countries are increasingly wary of becoming overly dependent on the superpowers for a technology that could profoundly affect their economic competitiveness and national security.

time to read

1 mins

November 26, 2025

Mint Kolkata

Mint Kolkata

TechM lags peers but sticks to its turnaround timeline

Co. expects revenue growth to rise as macroeconomic conditions improve by March 2027

time to read

3 mins

November 26, 2025

Mint Kolkata

Mint Kolkata

Wipro to enter pet foods with ‘HappyFur’

Wipro Consumer Care and Lighting, the consumer venture of Wipro Enterprises, is set to enter India’s fast-growing pet food market with a new brand, ‘HappyFur’, said three people aware of the plan.

time to read

2 mins

November 26, 2025

Mint Kolkata

PPFAS’s new fund to run like an index fund, with an edge

Fund will use futures market discounts, merger opportunities and index-rebalancing tactics

time to read

3 mins

November 26, 2025

Mint Kolkata

Al nostalgia has a new generation loving the 1980s

The baffling popularity of Al-generated 80's videos and other news this week

time to read

1 min

November 26, 2025

Listen

Translate

Share

-
+

Change font size