Barack Obama, Wasteful Spending | featured news

A new report says the U.S. health care system squanders $750 billion a year - roughly 30 cents of every medical dollar... But the counter-intuitive finding from the report is that deep cuts are possible without rationing, and a leaner system may even produce better quality.

President Obama fought back against Republican criticism over Medicare today, saying he has improved the program by eliminating wasteful spending. "Here's what you need to know -- I have strengthened Medicare," Obama told supporters in Dubuque, Iowa, on the third and final day of his bus tour of the state.

President Barack Obama said on Saturday he would soon announce the elimination of dozens of wasteful or ineffective government programs as part of a broad effort to restore fiscal accountability to the federal budget.

As a spending bill loaded with pork makes its way through Congress, President Obama is getting pushback from members of his own party who are questioning his vow to end wasteful spending.