The U.S. government needs to stop wasting money on doomed IT projects and update outdated technology to better serve residents, U.S. President Barack Obama said Thursday.

White House Chief Information Officer Vivek Kundra will explain how the federal government plans to offer cloud computing services to U.S. agencies at a Silicon Valley press event set for next Tuesday.

The real impact of the nearly $800 billion stimulus package on shrinking IT employment remains in the future, despite President Obama's plan, announced today, to expedite hiring of some 600,000 people over the next 100 days. Many of the jobs in this summer boost will be aimed at the construction and education fields and at young people.

U.S. President Barack Obama's announcement Friday of a new cybersecurity push by the U.S. government won widespread praise from the technology industry, with many people saying his attention to the issue is a major step toward better securing the nation's computer networks.