Submitted by rgordon on Fri, 06/01/2012 - 11:44
Historically, spending under stimulus legislation tended to peak after a recession was over, oftentimes creating inflation instead of jobs. To avoid this, the Recovery Act mandated tight timeframes, with 70 percent of the money required to be spent within 17 months to generate jobs. There was significant concern that this rapid spending might result in an estimated $50 billion in waste, fraud, or abuse. Accordingly, there were stringent transparency and accountability requirements embedded in the law.