Obama says consensus to reform defense procurement

WASHINGTON, March 24 | Tue Mar 24, 2009 8:48pm EDT

WASHINGTON, March 24 (Reuters) - President Barack Obama said on Tuesday that there is a consensus that the procurement system for U.S. defense contracts does not work.

Obama said during his second prime-time White House news conference since taking office on Jan. 20 that there is a need to reform the system so that taxpayer dollars are not wasted while keeping the country safe.

He said that his administration had already identified $40 billion of savings. (Reporting by Martin Howell)

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