At a Democratic National Committee fund raising event in Atherton, California Thursday morning, President Obama declared that the United States government still needs to get its fiscal house in order:
We still waste money in all kinds of things that don't work, and we have the capacity to shift those dollars into things that do work and that will grow our economy. And we can reduce our deficit, stabilize our debt, and do so without sacrificing the kinds of investments that are going to be required to grow.
During his remarks, the president spoke of the need to invest in education, meet environmental challenges, catch up on "$2 trillion in deferred maintenance," invest in science and research, and invest in new energy sources of the future.
He did not cite any specific examples of how the government is currently wasting money.