Continuing the trend of the past couple of Wednesday Waste posts, we’re going to point out another effort to reduce wasteful spending in the federal government. This time, we turn our eye toward the White House.
Late last week, the President announced a plan to merge six trade and commerce agencies in an effort to reduce duplicative work and reduce costs. The proposal hinges on a request for reorganizational power that must be granted by Congress. The Associated Press explains this power was last held by President Reagan. The AP continues, “the Obama version would be a so-called consolidation authority allowing him to propose mergers that promise to save money and help consumers. The deal would entitle him to an up-or-down vote from Congress in 90 days.”
The new agency would combine the efforts of “the Commerce Department’s core business and trade functions; the Small Business Administration; the Office of the U.S. Trade Representative; the Export-Import Bank; the Overseas Private Investment Corporation; and the Trade and Development Agency.”
The plan is expected to save the federal government $3 billion over 10 years.
Read Entire Story: Bankrupting America