Sixty Percent of Stimulus Project Funding Remains Unspent
Onvia Reviews Recovery Act Spending, Predicts that Congress May Consider a Rollback of Unspent Funds
Seattle, WA (PRWEB) November 17, 2010
Onvia (Nasdaq: ONVI), the leader in gBusiness solutions and the creator of Recovery.org, has identified $120.4 billion in Recovery Act contracts that have yet to be awarded. Onvia’s government-spending expert, Michael Balsam, predicts that these unspent funds and unawarded government contracts will be under discussion in the new Congress, including the question of whether the remaining stimulus funds should be recalled to address Federal deficit concerns.
"Onvia is tracking 75,000 Recovery Act projects on Main Street, of which just 27,293 have been awarded,” said Michael Balsam, chief strategy officer at Onvia. “The rest are still working their way through the system, to the tune of $120 billion. These are funds that are mostly devoted to longer-term infrastructure projects and clean energy.” READ MORE HERE--->