My view is that stem cell research has the potential to improve our lives significantly. Yet I hope the president follows through on his veto threat. My reason:
By its very nature, government politicizes everything it touches. Science is no exception. Stem cell research needs neither government money nor politics. It is better is to get the government out and let the private sector continue its good work. Those people calling for increased funding could take out their checkbooks and support it. Those who oppose embryonic stem cell research would not be forced to pay for it.
Of course the same thing could be said for just about everything the government forces you (the taxpayer) to fund. By the way, if popular support of stem cell research is mirrors congressional support for it then we should see a lot of voluntary contributions to it. My guess is that most stem cell research already qualifies for some government sponsorship because of tax deductibility to those private organizations conducting it.