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Federal audits improve, but real work lies ahead, OMB says

Federal agencies are getting better at balancing their books, but must dramatically improve how they account for their money to meet the Bush administration’s financial management goals, Office of Management and Budget Director Mitch Daniels said Thursday.

Defense official lays out 'transformation' budget details

A top Defense Department official on Wednesday defended the Bush administration's request for a $48 billion increase in the Pentagon's fiscal 2003 budget.