President Obama Signs Waste Law

President Obama signed legislation today that is supposed cut spending by $50 billion of which is improperly paid to dead people, fugitives and those in jail who shouldn't be getting benefits according to an AP report.

There was $110 billion made in such payments last year.

The new law will strengthen efforts made by federal agencies to stop improper money being paid out in a series of ways. It would require more audits of programs and adding penalties for agencies that don't comply with the law. The law also broadens how any recovered money can be used. Last month, Obama ordered creation of a federal "Do Not Pay List", a database agencies must check before cutting checks to individuals or contractors.