I think its too good of an opportunity to pass. Or rather, it in inevitable because we as greedy (i mean this as in our thirst for knowledge and advancement) human beings will not allow for this technology to pass by for the sake of morality. Morality didn't stop us from creating the Atomic and Hydrogen bomb, the bombs in existence now since Hiroshima are far more powerful to an exponential level. Apparently California and New York are the only two states that really hasn't cared for what Bush desired, and California is doing research on stem cell technology. Most other technological countries are funding for research in stem cell, assuming it works, it's only a matter of time before one of the countries manage to "perfect" it. Thus it's foolish for America to hold back from this possibility, we declared ourself as a superpower after all with our spacerace and nuclear arms race against Russia. Stem cell research could likely be another one of the greatest advancements this world has ever seen, we would lose a huge advantage by not catching up. With the resources available to the American government, they can do this easily instead of spending billions on this war on Iraq, we'd be saving gas and lives as well. Sure it might cost them heavily researching it, but how much they could make from all the potential customers would far surpass that. If I read this correctly, and after discussing it with my smart engineer friends, stem cell research could be used for nearly anything, ranging from remaking of brain cells to bring back memories in Alzheimer's, to recreating destroyed organs, skin, to even the possibility of enhancing your NATURAL breast size or penis size. Plastic surgery, pssh, I think people would pay for real ones instead. This however, I am talking about in terms of economy and what would be right for the government.
I personally as a human think that while this technology is amazing and would help save so many lives and aid others, etc. I cannot help but give a little shudder at the thought of such a technology and what it would do for us. Yes, we are all humans who care for somebody and would likely give anything if it meant saving or helping them, but has it not been nature's way, or God's way as some of you would state, that death is a natural process to maintaining a balance within the world? With so many people who at one point should have passed away, but did not, we are already facing global warming, extinction of millions of species (I learned in bio class that within the next 10 years, a million species of flora/fauna are expected to go extinct), over population, etc, we may be prolonging our individual lives, but perhaps not the quality of the human race as a whole in the future. But of course, who really cares for that, but of ourselves and the people we know of this time.