August 24th, 2010
02:05 PM ET
12 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.

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

    Filed (along with everything else) under the category of "You can claim anything you want as long as it can't be proved one way or the other"

    August 24, 2010 03:31 pm at 3:31 pm |
  2. Pkm

    Mr obama we need help payihng are biljs who are on social security

    August 24, 2010 03:37 pm at 3:37 pm |
  3. nini

    Can the White house please STOP lying.

    Open your eyes IT IS NOT WORKING.

    August 24, 2010 03:42 pm at 3:42 pm |
  4. JOSH

    Wake up america!!!!!!!!. with obama and biden it is really "goodbye to America. I see it in my family with grandchildren. They will be handicaped due to the present administrations dictated actions. Please please wake up.

    August 24, 2010 03:46 pm at 3:46 pm |
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