Tech CEOs go to the White House

The leaders of six technology companies are heading to the White House to send a message about how the government can reduce the deficit.

They will meet with Federal Reserve Chairman Ben Bernanke, Council of Economic Advisers Director Austan Goolsbee, National Economic Council Director Larry Summers and other economic officials. The tech leaders include the heads of IBM, Dell, Applied Materials, EMC, Intel, Motorola and Micron. IBM's chairman, Sam Palmisano, and Dell's chief executive, Michael Dell, will be in tow.

They will deliver their plan on reducing the deficit by $1 trillion over the next 10 years without new legislation. Their idea is to foster greater innovation in areas ranging from healthcare to education and energy to spur economic growth and create jobs. The Technology CEO Council believes the government can cut 30 percent of its IT overhead from the $76 billion it spends annually in this area, can cut money from its procurement processes by reducing duplication, and should reduce fraud and go digital rather than using paper.