Obama signs bill tightening defense procurement
President Barack Obama has signed into law a congressional bill aimed at tightening the controls on defense spending, saying it is ``long overdue.''
By Agencies |
WASHINGTON: President Barack Obama has signed into law a congressional bill aimed at tightening the controls on defense spending, saying it is ``long overdue.''
Standing with leading congressional players Friday morning on South Lawn of the White House, Obama said he was ``extraordinarily proud'' to sign the bill, which passed unanimously in both the House and Senate this week.
Obama noted one study which found that roughly $295 billion of taxpayers' money was wasted last year on cost overruns involving 95 defense programs.
He said wasteful defense spending ``is unacceptable'' at a time when the country is fighting two wars and trying to overcome a deep recession at home.
Standing with leading congressional players Friday morning on South Lawn of the White House, Obama said he was ``extraordinarily proud'' to sign the bill, which passed unanimously in both the House and Senate this week.
Obama noted one study which found that roughly $295 billion of taxpayers' money was wasted last year on cost overruns involving 95 defense programs.
He said wasteful defense spending ``is unacceptable'' at a time when the country is fighting two wars and trying to overcome a deep recession at home.
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