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The Economist
The Economist
9 Feb 2025


NextImg:What is Elon Musk getting up to with America’s payment system?
United States | The Treasury

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

Nobody is sure, many are worried

|FOND DU LAC, WISCONSIN

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 programme that provides child care, education and food to families on low incomes. Every other time ADVOCAP has done this the money has arrived within 48 hours.

US President Donald Trump.

Checks and Balance newsletter: Donald Trump’s scheming is costing America

He is rapidly spending down American capital accumulated by previous administrations

Police officers and mental health nurses gather around a man with mental health issues at a subway station in New York City.

New York City commits to involuntary commitment 

Compulsory treatment of the severely mentally ill was once taboo. No longer


Trump on a playing card

Donald Trump is turning payback into policy

And setting new, dangerous precedents for the American presidency


Florida comes to Washington, DC

Using the Sunshine State’s politics as a guide to the Trump administration

The clean-up after the LA fires is already revealing tensions

When a city burns, how does recovery even begin?

RFK junior and Tulsi Gabbard, set to sail through a cowed Senate

But Congress will bargain harder on taxes and spending