July 22nd, 2010
07:25 AM ET
12 years ago

Obama to sign bill targeting government waste

[cnn-photo-caption image= http://i2.cdn.turner.com/cnn/2010/images/07/22/art.obama.0719e.gi.jpg caption ="President Obama on Thursday will sign into law the Improper Payment Elimination Act."] Washington (CNN) - President Obama will sign into law Thursday the Improper Payment Elimination Act - an effort designed to slim down wasteful government programs and curb fraud in federal spending.

"The fact is, Washington is a place where tax dollars are often treated like Monopoly money, bartered and traded, divvied up among lobbyists and special interests," Obama said in March when he announced the initiative. "And it has been a place where waste - even billions of dollars in waste - is accepted as the price of doing business."

The act will use something known as payments recapture audits, which will pay auditors financial incentives to find improper payments. The White House said it could save $2 billion in taxpayer money over the next three years.

Full story

Filed under: issues • President Obama
soundoff (2 Responses)
  1. jp michigan

    The biggest waste is in the Obama administration. Top heavy! Cut back some of those jobs. Who needs all those advisors, Czars and aides. I guess someone who doesn't know how to govern. Well, all those people who are supposed to help the President haven't a clue what they are doing, they have proven to be more of a hindrence than helpful. Look at the Shorrn case, read what Ms. Warren has to say about the TARP bill!

    July 22, 2010 08:39 am at 8:39 am |
  2. MNResident

    The biggest government waste to remove is the salaries we are currently paying the current Congress and the current Presidential administation. The American taxpayer is CLEARLY not getting their money's worth on either of those investments.........

    July 22, 2010 08:43 am at 8:43 am |