Report released on wasteful spending

2009-11-20 15:45:49 (GMT) (WiredPRNews.com - News, US Presidential News)

Office of Management and Budget director Peter Orszag recently spoke to reporters about the need to crack down on wasteful government spending. Shown President Obama and Orszag at the White House.

A new report reveals five percent of 2009 fiscal year federal program spending was wasteful.

Washington, D.C. (WiredPRNews.com) – A recent government financial report has reportedly revealed that an estimated 5 percent of money put forth for federal programs was wasted in the 2009 fiscal year. As reported by the Associated Press (AP), improper spending of taxpayer dollars amounted to $98 billion according to the report.

As noted in the report, President Barack Obama will soon sign an executive order to cut down on wasteful spending and fraud at the government level. Peter Orszag, who directs the Office of Management and Budget, is quoted by the AP as stating to reporters of the issue, “We need to protect taxpayer dollars… Every dollar that goes to the wrong recipient or in the wrong amount is a dollar not available to help an unemployed worker, or to invest in education or key priorities of the administration.”

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Photo Found: Credit: Pete Souza, official White House photographer