Elon Musk alleged that up to $700 billion in entitlement spending could be “waste and fraud,” raising alarm among Democrats.

The popular entitlement programs came with a warning label from Republican senators not to slash benefits as Democrats look to make the episode a wedge matter.

Elon Musk on Monday in an interview with Fox Business Network's Larry Kudlow referred to federal spending on programs such as Social Security, Medicare and Medicaid as areas that need to be eliminated.