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In Depth Newscast – July 11

The Obama administration is expanding its effort to get rid of redundant regulations. The President is ordering independent agencies to make a plan for reviewin...

Federal News Network Staff

July 11, 2011 6:18 pm

1 min read

The Obama administration is expanding its effort to get rid of redundant regulations.
The President is ordering independent agencies to make a plan for reviewing regulations.

The goals is simple. Save money and allow agencies to operate more efficiently and ease burdens on business.

Obama ordered executive agencies – those run by a Cabinet secretary – to do the same in January.

The order is not binding, though the administration says it expects independent agencies to comply.

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The federal government awarded more than 8 billion worth of small-business contracts to big companies. That’s the conclusion of a federal spending analysis by the American Small Business League.
Federal Times reports, the League accuses the government of awarding 61 out of the 100 top small business awards to companies like General Electric, Lockheed Martin and AT&T.

Last week the Small Business Administration reported nearly 23 percent of federal contractor spending in 2010 went to small businesses. The Small Business League says the figure is more like 5 percent.
The still un-released Senate Democratic budget proposal contains nearly $900 billion in cuts to security funding. And the Pentagon is facing budget cuts of more than $800 billion over the next 10 years, according to the Hill.
The proposal by Senate Budget Committee Chairman Kent Conrad would also cut $350 billion from domestic programs.

The proposal estimates $600 billion in savings from reduced interest on the national debt.

While the plan is yet to be publicly announced, the $886 billion cut in security spending is significantly greater than the $178 billion in cuts in the already-passed House budget.