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You know, using semantic technologies together with spreadsheet technology at the point of submission would be a really smart move. It would benefit the submitter two ways: first they would be able to report out (visualize) their data in a variety of ways easily using semantic lens technologies; second, they would be able to see (automatically, since the table structure for agency data submissions is the same) and analyze their data combined with that of other agencies. Just going this far is a benefit.
But, having data and table definitions in semantic form has other benefits. It makes it easier to combine recovery.gov data together with other information and data sources -- data, form, document, and web page. For example, to associate recovery.gov data with data.gov data and with open linked data from across the web. And much more.
It's time to make semantics and knowledge representation first class citizens in the Federal IT approach.