Obama says he would slash spending

GREEN BAY, Wis. (AP) -- Barack Obama says he could save 40 billion dollars by cutting 10 percent of what the government pays private contractors.

In a speech in Green Bay, Wisconsin, the Democratic presidential nominee has laid claim to fiscal responsibility at a time when the federal budget deficit has been growing ever larger.

In the campaign appearance, Obama said he would "fire government managers who aren't getting results" and "improve efficiency across every level of government."

Obama blames the Wall Street turmoil on Republican policies that had "no oversight and accountability" when it came to the burgeoning federal deficit.

Obama also argues that John McCain would continue the same policies.

(Copyright 2008 by The Associated Press. All Rights Reserved.)

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