Government waste in focus
We're expected to learn more Thursday about the Obama administration's efforts to cut back on government contracting costs.
Government spending on contracts totaled about $540 billion in 2008 and the use of noncompetitive, or "high risk" contracts jumped $106 billion between 2002 and 2008, according to the Office of Management and Budget.
In an effort to curtail potentially wasteful spending, President Obama has ordered agencies to cut back on no-bid deals by at least 10 percent. He also wants to scale back contract spending by $40 billion by the end of fiscal 2012.
Meanwhile, Sen. Mark Warner (D-Va.) said Wednesday that Congress needs to get more serious on curtailing wasteful government spending.
"At some point, we need to send some kind of shock wave across the federal government that this time, we really mean it," Warner said at a meeting on government performance hosted by the Center for American Progress, a liberal think tank that used the event to unveil a new report on government performance.
Warner, a former Virginia governor, is working with Sen. Saxby Chambliss (R-Ga.) on proposals to cut federal spending in the next decade by adopting recommendations of the recent presidential debt commission.
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| February 3, 2011; 6:00 AM ET
Categories: Eye Opener
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