When I was a kid I had a paper route and when I got a little older I mowed lawns. My dad instilled a strong work ethic in my life at a very young age.
So, I can appreciate that enterprising young kids would want to take advantage of every opportunity to start and run a small business.
But I need someone to explain why the Small Business Administration gave nearly 5,600 loans to underage business owners?
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The Department of Government Efficiency reports that all of the businesses are owned by children still in elementary school – 11-years-old and younger.
DOGE says those loans totaled $312 million – all issued during the China Virus pandemic. Do you know how many cups of lemonade a kid would have to sell to make that kind of cash?
“While it is possible to have business arrangements where this is legal, that is highly unlikely for these 5,593 loans, as they all also used an SSN with the incorrect name,” the agency wrote.
“@DOGE and @SBAgov are working together to solve this problem this week,” they added.
As it now stands – the Small Business Administration has no idea what the $312 million was actually used for.
I’d bet a Chick-fil-A sandwich that the makers of Xbox and Tickle Me Elmo had a very good year.