August 24th, 2010
02:05 PM ET
8 years ago

White House says stimulus plan boosting tech innovation

(CNN) - The Obama administration stepped up its defense of the controversial $862 billion economic stimulus plan Tuesday, releasing an analysis which concludes that the measure is helping to spark major technological advances in energy production, among other things.

According to the analysis, the package's $100 billion "innovation" investment has helped put the United States on track to cut the cost of solar power by 50 percent in the next five years.

The report also predicts that the cost of electric vehicle batteries will drop 70 percent by 2015. The country's total capacity to generate renewable energy, it says, will double by 2012.

Additionally, the analysis says that medical investments funded by the Recovery Act will lower the cost of a personal human genome map to under $1,000 over the next five years - a development that could have significant ramifications for health care.

Full story

Filed under: economic stimulus • Economy • Energy • issues • Obama administration • Stimulus
soundoff (29 Responses)
  1. Kenneth Close

    If they just established rules like they did for automakers years ago ergo safety/mileage our federal cost would be zero.

    August 24, 2010 02:10 pm at 2:10 pm |
  2. Obama 2012!

    And these are the types of stories that get brushed under the rug and distracted by all the non sense spewed out by the likes of Boehner, McConnell, Bachmann, Limbaugh, etc etc...with all their hate, lies and ignorance...Obama is not getting the credit he deserves! i'm sick of the right wing ding dork party! all of em! let's create another party! and I DON'T mean the TEa party!

    August 24, 2010 02:11 pm at 2:11 pm |
  3. Steve in Denver

    Yes, but you are missing the point, Mr. President. Green energy kills jobs. The people working to make solar power cheaper are not working, they are killing jobs. The people working on the Volt and other electric car technology are killing jobs.

    We must increase our reliance on foreign oil, buying oil from countries that hate us so we can increase jobs.

    For you dim bulb conservatives, this is sarcasm.

    Invest in anything besides tax cuts for the wealthy? How obscene!

    So glad we went with the smart one.

    August 24, 2010 02:12 pm at 2:12 pm |
  4. Jilli

    We need to start leading the world in new technologies, and energy is a perfect start. We're being passed up by other nations. If the republicans have their way, we'll be stuck with the same old indignation and rejection of progression. We need to move forward, not back.

    August 24, 2010 02:20 pm at 2:20 pm |
  5. Sniffit

    "According to the analysis, the package's $100 billion "innovation" investment has helped put the United States on track to cut the cost of solar power by 50 percent in the next five years."

    Haha. The GOP is going to go even more if that's even possible. Their oil masters are going to be p-ssed.

    All this science won't sit well with the Christian fundy conservatard crowd though. They think Jesus wants us using an abacus made with rosary beads to do our taxes so giant corporations and the already-wealthy could have tax cuts.

    August 24, 2010 02:22 pm at 2:22 pm |
  6. Chessnutz of Liverpool NY

    Great we are saving the jobs of PHD scientists, wonderful OMG we need these jobs. But how does that help the 99% of us who are not PHDs? How does that put a paycheck into the average working American pockets?
    It is great to help the outliers in the unemployment curve and this will have long term benefits 10 to 20 years going forward...

    But we need regular everyday jobs for 10 million people yesterday! Jobs that will pay the bills, feed a family and restore self esteem.

    Congress come this November we will judge our votes on one thing...

    Jobs, Jobs, Jobs!

    Get it done or we will FIRE you! Republican or Democrat does not matter what is important is for the people's Government to start to look to support us (We the People) for a change, not the special interest groups!

    August 24, 2010 02:26 pm at 2:26 pm |
  7. Augsbee

    I hope we can pay back all these monies before millions of Americans drain the system. You read people are laughing all the way to the bank as they take advantage of the system. Oh well.

    August 24, 2010 02:26 pm at 2:26 pm |
  8. Peter s

    The point is canthe Republicans explain why we had to use the stimulus plan in the first place? they don't want to go there! because they know what they did to the economy!. Hammer them again and again about! if they say " ohhhh the stimulus is not working and we were told the employment won't go past 8 % and now its in double digits" Just ask them a simple question but are we still loosing over 700,000 jobs amonth? the answe is no! and that means the stimulus is working although in a slower pace than anticipated. TO BEAT A FOOL IN HIS TRADE USE HIS TOOLS! OF THE TRADE!.

    August 24, 2010 02:27 pm at 2:27 pm |
  9. obama victim

    before the governmnet steals anymore of anyone's...and that includes the so-called should stop wasting, giving away, and just plain spending money they have already stolen. I am so sick of the Democrat playbook of class welfare...i.e. rich people are, rich people are the ones who start the businesses and hire people......ever seen a poor guy buy a a house....invest in the market...or give someone a job?? I didn't think so

    August 24, 2010 02:28 pm at 2:28 pm |
  10. Monster Zero

    I wouldn't believe one srcap of a report out of the White (Out) House. We are living their summer of recovery, it comes right before their fall of doom!

    August 24, 2010 02:32 pm at 2:32 pm |
  11. Buster

    You can always tell when obama is lying because his lips move.

    August 24, 2010 02:35 pm at 2:35 pm |
  12. Claudia, Houston, Tx

    The sooner Americans recognize they must reeducate themselves in technology innovation, they will have jobs. But first we must accept, those generational jobs are gone and aren't coming back. The World has changed.

    August 24, 2010 02:37 pm at 2:37 pm |
  13. JFS

    You tell em' Joe. These SOB's think that they can set in Washington and collect paychecks by just saying NO and DO NOTHING to help the USA and then come out of the walls during an election cycle. They are the very worst and should be voted out of office !!!

    August 24, 2010 02:37 pm at 2:37 pm |
  14. mother and sister of soldiers

    I'll believe WH statements when there is visible proof!

    August 24, 2010 02:39 pm at 2:39 pm |
  15. Papasan in AZ

    Lots of Boost happening here in Arizona...
    5th teer Unemployment is a washout if you don't qualify for it!
    Washington needs to get with the program and help Main Street USA!

    August 24, 2010 02:44 pm at 2:44 pm |
  16. Dutch/Bad Newz, VA

    Sounds like a good investment. When America is energy independant, we won't have any republicants to thank.

    August 24, 2010 02:46 pm at 2:46 pm |
  17. gt

    wake up these just didnt start with the stimulus plan... ugh,,,these have been under way for yrs.... jerks...

    August 24, 2010 02:47 pm at 2:47 pm |
  18. Tom-Vermillion Ohio

    We are going to have to get a whole lot more aggressive in our efforts of stimulating the economy. Somehow, we are going to have to put a lid on those wedge issues that are dominating the national conversation as they have nothing to do with fixing the economy. They are simply a distraction to get national attention away from important economic issues that effect us all. I think it is important for legitimate news organizations (like CNN?) to ignor 'wedge issue news' until the economic situation is back on track. We also need to find a way to bring manufacturing back to the USA. Maybe a real stiff tax penalty for corporations and execs who export jobs? They could be entised with a handsome tax refund once they get the jobs back?

    August 24, 2010 02:48 pm at 2:48 pm |
  19. Some republican guy

    Heaven's to Betsey!!!! The narcisstic elitest obamabots are up to they're old tricks!!!!!! I don't want an electric car!!!!! I need an SUV to drive into town and get milk for my grandbabies!!!!!!! I won't get eggs for them though because Mexican Muslins put samonella in our eggs!!!!!!!! Why do we need solar power anyway????? They raised all of our taxes to pay for they're solar porkulus to create union jobs for the Oprah watching union thugs and illeagle aliens!!!!!!! Meanwhile they want to map our genomes so they know who the real Americans are and then they can round us up and ship us off to the re-education camps where the elitest obamabots will read us communist dogmas from they're teleprompters!!!!!!! The will brainwash us into being altruistic like that Ayn Rand lady warned us about!!!!!!! Wise up and empeach them all and succeed from the union before its to late!!!!!!!!!!!!!! Have a nice day!!!!!

    August 24, 2010 02:58 pm at 2:58 pm |
  20. petey

    so where are the jobs?

    its a simple question.

    Where are the jobs? Otherwise – this is BS propoganda.

    August 24, 2010 03:04 pm at 3:04 pm |
  21. mj

    Say what??? May be that they just don't look at the real numbers. There are no jobs, the economy is tanking by the minute, Democrats just want to throw money to Unions to keep donations, housing market at an all new low, and they are patting themselves on the back for "possible" energy advancement? What a bunch of morons. Not one "Czar" in Obama's Administration who has any business experience or knowledge. Why are we letting this happen? Somebody, please, take away their checkbook!

    August 24, 2010 03:18 pm at 3:18 pm |
  22. Bobby V would be funny if it wasn't so sad. The stimulus has done nothing but create debt for future generations.

    August 24, 2010 03:18 pm at 3:18 pm |
  23. SLM

    And the Obama fairy tales continue. He can make all the false claims he wants to, but most of us are not that stupid. The real recovery will begin in 2012 when this naive, incompetent and clueless man is removed from office. Tax and spend is not the solution to economic recovery...............but they don't teach you that in school.

    August 24, 2010 03:20 pm at 3:20 pm |
  24. Now Just A Minute, We Republicans Believe in The Flat Earth and a 6000 year-old planet . . .

    Do Not want our tax dollars paying for anything that will move us out of the 18th century

    August 24, 2010 03:25 pm at 3:25 pm |
  25. Rick CT

    He also predicted at the beginning that unemployment would stay below 8%. The only reason it's not higher than the reported 9.5% is that at least 1 million people have become so discouraged, they've competely stopped looking for jobs and no longer count as part of the labor force.

    August 24, 2010 03:30 pm at 3:30 pm |
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