President Obama put the U.S. government on a fiscal diet Thursday, signing a bill designed to cut down on government waste, fraud and abuse and ensure the most efficient use of American tax dollars.
The Improper Payments Elimination and Recovery Act reflects promises Obama made on the campaign trail—to make the government more transparent, efficient and responsive to the needs of the people, he said.
“The reality is that right now, in these difficult economic times, families across this country are cutting every frill and stretching every dollar as far as they can—they should expect no less from their government.”
The bill includes cuts to unnecessary or wasteful programs (including money to build a new presidential helicopter fleet) and a budget that will reduce non-defense discretionary spending to its lowest level in 50 years.
Obama said the bill puts the government on track to reach the goal of saving $40 billion by the end of the next fiscal year.
For more information on Obama’s recent economic recovery efforts, check out a video of the president’s statements today.
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