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.
"Even if these were the best of times, budget reform would be overdue in Washington," Obama said.
Obama's presidential memo changes government contracting procedures. It directs Peter Orszag, director of the White House Office of Management and Budget, to work with Cabinet and agency officials to draft new contracting rules by the end of September.
Those new rules, White House aides say, will make it more difficult for contractors to bilk taxpayers and make some half-trillion dollars in federal contracts each year more accessible to independent contractors.
Obama said the package of reforms could save up to $40 billion each year.
"We will stop outsourcing services that should be performed by the government and open up the contracting process to small businesses," he said. "We will end unnecessary no-bid and cost-plus contracts that run up a bill that is paid by the American people. And we will strengthen oversight to maximize transparency and accountability."
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