$1 Trillion Savings from Tech?

A group of corporate technology executives has developed a plan that they say can reduce the federal deficit by $1 trillion during the next 10 years while enhancing citizen services.

The Technology CEO Council, led by IBM's Chairman Sam Palmisano and includes Dell Chairman and Chief Executive Officer Michael Dell, presented the report to Obama economic officials on Thursday. They based their plan on how the private sector has increased productivity, and reduced unnecessary expenses, "areas where the government has failed," a news release said.

The recommendations by the council, whose member companies employ 700,000 people and generate $250 billion to $300 billion in annual sales, would require no new legislation, they said. The key to achieving the savings is leadership, "and it must come from all sectors of society," the report said.

Among the recommendations were to consolidate information technology infrastructure. The report estimated 20 to 30 percent of the $76 billion the government spends on supporting its IT assets can be eliminated by reducing overhead, consolidating data centers, eliminating redundant networks and standardizing applications.

"By harnessing major technological shifts and adopting best business practices, we cannot only make our government far more productive, but also foster greater innovation in areas ranging from health care to education and energy," the 10-page report said.