Advertisement

Government on track to save $40 billion in contract costs

Share

This article was originally on a blog post platform and may be missing photos, graphics or links. See About archive blog posts.

The Obama administration says the federal government is on track to meet its goal of saving $40 billion a year in contract costs by fiscal year 2011.

The Office of Management and Budget says agencies already have identified more than $19 billion in savings for fiscal year 2010. Those savings come from terminating unnecessary contracts, ending an over-reliance on contractors and reducing the use of high-risk contracts.

Advertisement

The administration says federal spending on contracts has doubled since 2002, reaching $540 billion last year. Officials say there also has been an increase in contracts awarded without full and open competition.

-- Associated Press

.

Advertisement