NEW: Three-quarters of stimulus to go in 18 months

WASHINGTON (AP) - A top White House official says the Obama administration wants to spend three-quarters of an $825 billion economic stimulus package within 18 months of its passage.

By: Associated Press | WNCT
Published: January 22, 2009

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WASHINGTON (AP) - A top White House official says the Obama administration wants to spend three-quarters of an $825 billion economic stimulus package within 18 months of its passage.

Peter Orszag, the director of the Office of Management and Budget, says if House or Senate bills do not spend the money as quickly, the White House will work with lawmakers to achieve the 75-percent goal.

In an interview with The Associated Press, Orszag responded to questions raised by a Congressional Budget Office assessment that concluded that under a House proposal it would take years for money targeted for infrastructure to be spent. Spending beyond 2009 and 2010 would have less of an effect on the current economic troubles.

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