NEW YORK — Vice President Joe Biden acknowledged on Tuesday that some waste is inevitable in the spending of a $787 billion economic stimulus package, in a characteristically blunt assessment.
"We know some of this money is going to be wasted," Biden said during a roundtable discussion in New York with business leaders aimed at promoting the two-year stimulus plan.
The package was approved by the Democratic-led Congress in February over the objections of most Republicans, who were concerned about the potential for wasteful spending and because it will add billions of dollars to U.S. deficit spending.
President Barack Obama placed Biden in charge of supervising implementation of the stimulus to underscore his promise of strict oversight of the package, which is aimed at creating or saving 3 million to 4 million jobs.
Strict oversight must be a relative term for these fools.