On the other hand, as far as 'waste' goes, CIA funded research contracts are as heavily regulated, tracked, and penny-pinched as other govt. contracts. I know it sounds like there's room for abuse, and some will trot out stories of $600 hammers--maybe there still is waste and abuse elsewhere. However, the government bid and contract process is actually very, very tightly controlled to limit how much money contractors get, how they spend it, etc. It really is, I have to deal with this all the time. As much as I often feel that government is wasteful, my perspective is that it's more a question of WHAT is being funded, not so much that individual agencies are not thrifty. They're cheap as hell!
That having been said, I'd love to see lots of waste cut at the AGENCY level (e.g., dissolve the so-called Civil Rights Commission and dethrone Her Highness). I'm sure there are plenty of other such agencies to cut, too...