Tuesday, July 11, 2006

No to Federal Funding of Private Industry

Once again, Congress is barking up the wrong tree. As I write this, the House of Representatives is debating granting Federal funding to stem cell embryonic research. It is not the moral issue compelling me to rail against this; rather it is the questionable practicality of using public money to fund any scientific research.

Stem cell research is important in advancing medical science, and should not be curtailed by law. However, there are plenty of private organizations and trust funds that can adequately fund this type of research. If such research is in the best interest of pharmaceutical companies, which it would seem to be, the pharmaceutical companies should fund it. American Cancer Society and other organizations collect millions of dollars in private funding which could be used for stem cell research. Insurance companies, which are already heavily subsidized by the government, may also find such interest in the research. The fact is that the pharmaceutical and insurance industries record profit percentages five times that of the oil companies. They do not need the taxpayers' help in increasing their profits by reducing research costs.

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