President Obama signed a directive Wednesday that changes the way government contracts are awarded and who can get them, a move he said could save as much as $40 billion a year.
The amount the government spends on contracting has ballooned over the past eight years, with outlays for goods and services increasing from $200 billion in 2000 to more than $500 billion in 2008. The president said his plan would make the contracting process more competitive and accessible to independent contractors — and more difficult for contractors to defraud taxpayers.
"It's time for this waste and inefficiency to end," the president said Wednesday morning at the White House. "It's time to invest only in what works."
The amount the government spends on contracting has ballooned over the past eight years, with outlays for goods and services increasing from $200 billion in 2000 to more than $500 billion in 2008. The president said his plan would make the contracting process more competitive and accessible to independent contractors — and more difficult for contractors to defraud taxpayers.
"It's time for this waste and inefficiency to end," the president said Wednesday morning at the White House. "It's time to invest only in what works."
Contractors are the problem? It's government itself who's defrauding taxpayers. If Madoff goes to jail for his ponzi scheme, who's going to jail for the largest ponzi scheme on Earth? Hint: It's social security.
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