Hurry Up And Spend That Money

Agencies have pushed 85 percent of stimulus dollars out the door. Now, the administration is urging them to spend the remaining 15 percent. Office of Management and Budget Director Jack Lew told agency heads to accelerate spending on recovery grants to states and cities, citing the need to raise employment levels. The 2009 economic stimulus bill gave agencies until 2013 to obligate and outlay more than a half-trillion dollars. The latest OMB directive also orders agencies to submit plans for recovering money received but not spent by grantees. Those dollars go back to the Treasury.