Obama sees $40 billion savings in spending reforms

Share post:

President Barack Obama on Wednesday will order a crackdown on waste and cost overruns in U.S. government procurement that he estimates will save up to $40 billion a year, an administration official said.

Elected on campaign promises of sweeping change and greater accountability in Washington, Obama, who took office on January 20, will sign a presidential memorandum seeking to “reform our broken system of government contracting,” the official said.

The president will unveil his plan at a White House ceremony at 10:00 a.m. EST, nine days after holding a “fiscal responsibility” summit where he pledged to make curbing procurement excesses, especially in defense spending, one of his top priorities.

More

Austin K
Austin Khttps://www.megri.com/
I'm Austin K., a passionate writer exploring the world of News, Technology, and Travel. My curiosity drives me to delve into the latest headlines, the cutting-edge advancements in tech, and the most breathtaking travel destinations. And yes, you'll often find me with a Starbucks in hand, fueling my adventures through the written word

Related articles

Creative Ideas for Modern Patio Covers

Key Takeaways Modern patio covers seamlessly blend function and style for versatile outdoor living. Material options, such as...

Important Questions To Ask Your Truck Accident Lawyer

Have you ever been in a truck accident? All you see are medical bills, insurance agents, and bills. Plus...

World Ozone Day 2025 Explained: Importance, History & Global Impact

World Ozone Day 2025 is a global reminder of the importance of protecting the Earth’s ozone layer. This...

Ride the Fun with a Mechanical Bull Rental in the Bay Area, Oakland, San Jose, and San Francisco

If you’re planning an unforgettable party, then a mechanical bull is going to bring a whole lot of...