Is The Obama Administration Really Saving Money?

The Government Accountability Office is throwing ice water on the administration's claims of savings through contracting reforms. The White House reported savings of $15 billion last year. It says they came from using fewer time-and-material and cost-plus contracts. But GAO says those savings can't be verified. It reports, much of the claimed reduction can be traced to budget cuts at the Defense Department, not better contracting. Procurement chief Dan Gordon disputes GAO's findings. He says auditors took too narrow a view of how to calculate contract savings.