From the side of the pond, there does seem to be something awry in the Bush stance as I hear it. It appears to be that the stem research is still permitted, but cannot be government funded. That in itself isn't a problem - it is merely the ordinary question of what you think are Government responsibilities, how you decide to prioritise those, and how much you think the Government should raise.

No, the problem as I see it is that this decision is being presented as a matter of morality. I can't see any coherent argument based on morality that says its perfectly ok providing a commercial company does it.