Rep. Maxine Waters (D-CA) raised alarms during a House Financial Services Committee hearing on Wednesday, voicing concerns over Elon Musk’s Department of Government Efficiency (DOGE) and its expanding investigations into government agencies and officials.

Waters’ comments came a day after Musk revealed that DOGE would begin scrutinizing federal employees who have accumulated tens of millions of dollars in wealth while working on taxpayer-funded salaries.

“We do find it sort of rather odd that there are quite a few people in the bureaucracy who have essentially a salary of a few hundred thousand dollars but somehow manage to accrue tens of millions of dollars in net worth while they are in that position,” Musk said.

Elon Musk Called This Financial News 'Terrifying'

“We’re just curious as to where it came from. Whether they have very good investing in which case we should take their investment advice perhaps,” he continued.

“They seem to be mysteriously getting wealthy, and we don’t know why – where did it come from? I think the reality is that they are getting wealthier at the taxpayer’s expense.”

Musk’s announcement follows news that DOGE has gained access to several federal agencies, including the Department of Treasury and USAID.

The increased oversight appears to have sparked concerns among government officials, with some expressing fears over what the investigations might uncover.

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During the hearing, Waters pressed Federal Reserve Chairman Jerome Powell on whether he would allow Musk to audit the Federal Reserve, a move that has long been proposed by government transparency advocates.

When Powell refused to give a direct answer, Waters shifted her focus to DOGE’s investigative reach, making a revealing statement about Democratic fears regarding Musk’s access to government data.

“Well, you know what happened at Treasury, and you know what happened over at the CFPB,” Waters said.

“People of this country are being violated because all of our privacy has been taken up by Elon Musk and Trump.”

She then admitted: “And we don’t know what they have on us.”

Deranged Maxine Waters badgers Jerome Powell about DOGE; lets the real worry slip:

“We don’t know what all they have on us.” pic.twitter.com/YmKfnYk7jw

— Western Lensman (@WesternLensman) February 13, 2025

Waters’ remarks suggest that some lawmakers are deeply concerned about what DOGE may uncover as it continues auditing federal agencies and officials.

The fear that Musk and Trump may have gained access to sensitive information has led to heightened tensions among Democrats, who have long criticized DOGE’s mission to eliminate waste, fraud, and corruption within the federal government.

The push for greater transparency in government finances has been a longstanding issue, with figures like former Rep. Ron Paul calling for an audit of the Federal Reserve for decades.

Waters’ reaction has only fueled speculation that DOGE’s latest efforts may reveal significant financial discrepancies within government operations.

As DOGE continues its investigations, the Biden-Harris administration and federal agencies will likely face increased scrutiny over their financial dealings.

With Musk at the helm, the probe into unexplained government wealth is just getting started.

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