Five former U.S. Treasury secretaries warn that Elon Musk’s DOGE could destabilize federal payments and democracy. As legal battles mount and protests grow, the fight over financial control may reshape Washington’s power balance.
A rare and urgent warning has been issued by five former U.S. Treasury secretaries regarding the potential risks posed by Elon Musk’s newly formed Department of Government Efficiency (DOGE). In a jointly authored New York Times op-ed titled Our Democracy Is Under Siege, Robert Rubin, Lawrence Summers, Timothy Geithner, Jacob Lew, and Janet Yellen cautioned that DOGE’s involvement in federal payment systems could undermine the nation’s financial stability and constitutional order.
The former officials took the “extraordinary step” of making their concerns public, arguing that DOGE’s influence over the U.S. Treasury’s payment infrastructure—responsible for disbursing tax refunds, Social Security benefits, and Medicare payments—introduces the risk of politically motivated financial control.
“This is not about financial efficiency—it’s about unchecked power,” the former secretaries wrote. “Our financial system has long operated on a principle of nonpartisan execution, ensuring federal payments are processed as dictated by Congress. The potential for political manipulation threatens not just economic stability but also the fundamental trust that underpins our democracy.”
The warnings come amid ongoing legal challenges. A federal judge recently issued a temporary order restricting DOGE’s access to Treasury payment systems, citing “irreparable harm” and concerns over sensitive financial data being placed under the control of politically appointed officials rather than experienced civil servants. Judge Paul Engelmayer’s ruling also mandated the destruction of any Treasury data accessed by DOGE personnel since January 20.
The crux of the dispute revolves around the extent of executive power over federal payments. The five former Treasury secretaries pointed to remarks by Supreme Court Justice Brett Kavanaugh, who previously affirmed that “the power of the purse resides with Congress” and that the president does not have unilateral control over federal finances.
Elon Musk, however, has dismissed these concerns as politically motivated fearmongering. Responding to former Treasury Secretary Larry Summers on X (formerly Twitter), Musk wrote: “Listen Larry, we need to stop government spending like a drunken sailor on fraud & waste or America is gonna go bankrupt. That does mean a lot of grifters will lose their grift and complain loudly about it. Too bad. Deal with it.”
The Trump administration, which authorized DOGE’s oversight of Treasury functions, has defended the initiative. In a recent court filing, Treasury Secretary Scott Bessent stated that the judge’s ruling impedes the executive branch’s ability to conduct fiscal oversight, calling it a “remarkable intrusion” into presidential authority.
Beyond the immediate concerns over data security and fiscal governance, the former Treasury leaders argue that DOGE’s role raises serious constitutional issues. They warn that allowing a politically appointed body to exert control over payments could set a precedent where federal funding decisions become tools of partisan leverage.
“Any hint of the selective suspension of congressionally authorized payments will be a breach of trust and ultimately, a form of default,” they wrote. “And our credibility, once lost, will prove difficult to regain.”
The potential ramifications extend beyond policy disputes. If confidence in the federal payment system erodes, market reactions could be severe. Treasury bonds—long considered the safest investment globally—rely on investor trust in the U.S. government’s ability to meet its obligations. Any perceived instability could trigger higher borrowing costs, a weakened dollar, and economic uncertainty.
Public response to the controversy has been swift. Demonstrators have gathered outside the Treasury Department, with signs reading “It’s Musk or Us” and “Whose side are you on?” Meanwhile, Senate Majority Leader Chuck Schumer has led protests against DOGE’s Treasury access, vowing to fight what he calls an “unprecedented assault on the financial integrity of the United States.”
As legal battles unfold and political tensions mount, one thing is clear: The fight over DOGE’s role in the Treasury is more than a bureaucratic dispute. It is a critical moment for financial governance and the stability of the U.S. economic system amid unprecedented political intervention.