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Obama Urges Wise Use of Stimulus Funds


President Barack Obama is urging all U.S. states to use their portion of federal stimulus funds wisely, saying he will not tolerate wasteful spending of the $787 billion package.

President Obama told a meeting of state representatives Thursday in Washington that if money is being misspent, officials will put a stop to it.

The state representatives were attending a day-long conference on how to apply for and use funds allocated to the states in the economic stimulus package Mr. Obama recently signed into law.

President Obama later told a gathering of business leaders that his administration will also address long-term threats to prosperity. He said delaying investments in health care, energy, and education would make the "recovery more fragile and the future less secure." However, he assured the business leaders he is committed to the free market system.

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