Procurement reform and government spending2012-06-07
'Tax-supported institutions are ripe for reform so tax dollars can be saved. Officials, elected and appointed, acknowledge this, but seem stumped on how to move beyond rhetoric to action. This is true not only in the United States but worldwide.
'According to the Center for International Development at Harvard University, government procurement accounts for a substantial part of the global economy - 10% to 15% of GDP (gross domestic product) in developed countries and up to 20% in developing countries. Reducing government procurement costs would definitely help Greece, Italy and other economies where the government has been living beyond its means. At home, lowering the cost of government spending without reducing its purchasing power would in itself be an economic stimulus.'