Obama joined Republican Sen. John McCain, his presidential campaign rival, and other congressional figures Wednesday to announce an executive memorandum that commits his administration to a new set of marching orders for awarding contracts. Obama said "the days of giving government contractors a blank check are over" and said changes could save up to $40 billion a year.
One area in particular that is targeted is no-bid contracts, which the administration is seeking to change so that there will be more competition for government-paid work.
Obama said that "even if these were the best of times, budget reform would be overdue in Washington."
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