Obama Promises Strict Oversight Of Stimulus

Republicans criticized the bill as laden with wasteful spending that they said would do little to revive the economy.

U.S. President Barack Obama on Friday promised careful oversight of a $787 billion stimulus package he signed into law this week and said he would call to task any instances of government waste.

Faced with an economy mired in a deep recession, Obama made the package of public works spending projects, social-service spending and tax cuts the centerpiece of his agenda for jumpstarting growth.

Republicans, most of whom refused to support the stimulus measure, criticized the bill as laden with wasteful spending that they said would do little to revive the economy.

But Obama and the Democratic-led Congress have rejected that characterization.

At an event at the White House attended by many of the nation's mayors, Obama said the stimulus plan would create jobs and promote long-term growth through spending to repair crumbling roads, build high-speed rail projects and expand broadband infrastructure.

He emphasized the plan would be implemented "without waste, inefficiency, or fraud" and promised to appoint a team of managers to oversee the spending.

"If a federal agency proposes a project that will waste that money, I will not hesitate to call them out on it, and put a stop to it," Obama said.

"I want everyone here to be on notice that if a local government does the same -- I will call them out on it as well, and use the full power of my office and our administration to stop it," he added.