WASHINGTON (CNN) - Vice President Joe Biden convened the first of what is expected to be a series of weekly stimulus plan implementation meetings Wednesday, saying it's critical to ensure that "the money that is spent is spent well."
The $787 billion package "is about creating and saving jobs now," Biden said. "We've got to make sure we hold as many people as possible accountable. (We need to) follow the money to make sure it's getting out there and is working."
Biden, who has been tasked with overseeing the distribution of stimulus funds, announced several fund disbursements, including $15 billion in Medicaid assistance and $10 billion to help make public housing more energy efficient.
Several Cabinet members attended the conference at the White House, including Treasury Secretary Tim Geithner, Office of Management and Budget Director Peter Orszag, Energy Secretary Steven Chu and Transportation Secretary Ray LaHood.
Former Interior Department Inspector General Earl Devaney, who has been tapped to head a new Recovery Act Transparency and Accountability Board, also attended.
The Transparency and Accountability Board was established by President Barack Obama to ensure that the stimulus package is spent in an open, efficient manner.
The "unprecedented spending" in the stimulus package, Obama said Monday, comes with an "unprecedented obligation" to avoid waste.