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Auditor warns -- Some stimulus waste is inevitable

Associated Press

WASHINGTON — The chief auditor overseeing the spending of the $787 billion in stimulus funds is warning that some waste or fraud is regrettably inevitable.

In prepared testimony before the House oversight committee, Earl Devaney says the challenge for the Recovery Accountability and Transparency Board he chairs is to significantly minimize any such loss.

Devaney warns that he thinks federal agencies will have great difficulty attracting and hiring enough contract professionals to minimize the risks associated with moving the money fast enough to accomplish the recovery act’s goals.

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