NEW: Elon Musk just revealed that the government handed the Navy $12 billion to build new submarines—and not a single submarine was built.

When investigators asked where the money went, Navy officials shrugged and said they had no idea.

“There’s a case where I think Senator Collins was telling me about how she gave the Navy $12 billion for more submarines, got no extra submarines, and then held a hearing to say where the $12 billion go.

“And they were like, we don’t know. That was it. I mean, basically, stuff is so crazy. Only the federal government could get away with this level of waste,” Musk said.