Foster legislation to enable government employees and the public to be rewarded for reporting government waste and abuse

My proposal is allow a reward for decreasing government wasteful spending, via legislation promoted by President Obama. Once enacted through Congress and signed by the President, this law would help to curb government wasteful spending and reward reporting individuals and organizations through four steps. First, the wasteful spending would be reported to a presidentially appointed three-person panel. Secondly, the panel would review the reports for validity and submit findings of wasteful spending to Congress. Next, legislation would be drafted to put a targeted end to such spending. In the final step, the GAO would identify a figure equaling 10% of funds saved, and the reporting parties then choose, as their reward, how government should reallocate that amount toward other programs.