Video: NIH receives money from stimulus

  1. Closed captioning of: NIH receives money from stimulus

    >> to see the president pivot to health care but after what we saw happen to the public option yesterday in the votes some might expect the president to be stronger as so much analysis out there says that the difference now is what he says regarding public option.

    >> well, a couple of things on that. first of all, the goal of the white house right now is get something moving in the senate. right? so they want to get a bill out of the finance committee and get it to the floor so they can ultimately have the house and senate pass the bill and then have a conference. i don't think he is losing too much sleep right now or anybody in the white house is over the fate of the public option at this moment. forward motion is more important. baucus said i can count votes we cannot get 60 votes for the public option and i think they are rolling with that. one thing to watch is whether or not olympia snowe offers either in committee or more likely on the floor her amendment for a triggered public option that is probably the strongest possibility for some kind of public option to make it into the senate bill before this conference.

    >> it's interesting to hear the president as weave all of these things as he made the connection so many people end up losing everything trying to pay for their health care but we're still looking at unemployment i believe in 15 states he it's did you believe digits and it may creep up across the board the average 10% by the end of the year. is the president really hitting it hard with events like this, as chuck said, rahm emanuel would love an event like this every day?

    >> they have to and i don't envy the task that the white house has with this unprecedented plate full of agenda items be it iran and unemployment be it the public option. i just left my resume with starbucks downstairs and hope to hear from them soon. i digress. anyway the public option, i think it's important to note that the public option has taken on even broader term in the first however nine months of this presidency. it's increasely come to mean looking to washington to kind of spend money, whether it's bailing out detroit, whether it's giving money to state and local governments, transportation subsidies and high-speed rail and green jobs . the challenge i think for obama and biden is how do we increasingly pull away these public funds especially as the world is calling into question the strength of our currency and have the economy stand on its own two feet? that is very difficult to answer.

    >> one of the difficulties --

    >> go ahead.

    >> they will not pull it away from scientific research . that is very popular. this is as chuck todd was just saying, this is a very strong message for the white house to be able to deliver if they can make it sink in. it says recovery money is being used for people like which is basic scientific research that may help them with health care down the line.

    >> john that is a 5 billion bone i think they are throwing to the nih. nothing on the order of manhattan project for any of these things. nothing approached a new deal.

    >> $5 billion of real money ?

    >> i'd take but i don't think it's a grand changer in the economy of 10% unemployment.

    >> we could debate this but have to keep going. the president has a number of other things including what to do about afghanistan.

updated 9/30/2009 11:28:52 AM ET 2009-09-30T15:28:52

President Barack Obama has announced $5 billion in government grant money to help pay for research into cures for cancer and other diseases.

Obama traveled to suburban Maryland Wednesday to make the announcement at the National Institutes of Health, where he paid tribute to federal employees who "save countless lives."

The president said "we know that that the work you do would not get done if left solely to the private sector." He said he is making a "historic commitment" to new research to save and enrich the lives of people. Obama said the money from the $787 billion economic stimulus law represents the "single largest boost" to biomedical research.

Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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