Obama signs bill to cut wasteful defense spending (AP)

President Barack Obama walks to a desk in the Rose Garden of the White House in Washington, Friday, May 22, 2009, to sign the Weapons Systems Acquisition Reform Act. He is joined by, from second from left: Sen. Carl Levin, D-Mich., Rep. Ike Skelton, D-Mo., and Rep. Mike Conaway, R-Texas.  (AP Photo/J. Scott Applewhite)AP - President Barack Obama granted the Pentagon new power to rein in wasteful defense spending Friday, a change he said was long overdue.

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