Aug. 7 (Bloomberg) — President Barack Obama signed a bill into law that gives the secretary of the Veterans Affairs Department new powers to fire agency executives for misconduct, saying it will ensure a "culture of accountability."

The law also permits veterans to seek private health care if waiting times at a government facility are too long and authorizes spending of $17 billion over five years to expand medical care and reduce case backlogs.

In remarks to an audience that included service members preparing to leave the military, Obama called mismanagement at the VA "inexcusable."

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