As Congress and the administration grapple with how best to cut the federal deficit, a group of industry and government leaders are suggesting that information technology be used to reduce that number by billions of dollars. The American Council for Technology and Industry Advisory Council’s (ACT-IAC) Institute for Innovation on Tuesday released recommendations for the Obama administration to cut the deficit by $220 billion annually through increased use of data analytics and industry best practices. ACT-IAC  is public-private partnership focused on helping government use technology to serve the public. More than 100 volunteers from government and industry provided input for ACT-IAC’s first Quadrennial…