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Wednesday, May 20, 2009

Recovery Act coordinator sees signs of progress

Three months after the most ambitious economic stimulus package in American history was signed into law, signs of progress are slowly beginning to emerge, according to G. Edward DeSeve, the government's lead implementation official for the $787 billion American Recovery and Reinvestment Act.

In his first extensive interview since returning to government in March to serve as the Obama administration's lead official on stimulus implementation, DeSeve told Government Executive Wednesday that the rate and efficiency of federal and state spending is exceeding expectations.

Thus far, federal agencies have obligated $110 billion in recovery funds -- more than a $1 billion a day -- and actually paid out $36 billion.

-Robert Brodsky, GovExec.com
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