United States District Court for the District of Columbia Judge Royce C. Lamberth issued a temporary halt to federal funding of embryonic stem cell research saying it involved the destruction of human embryos. Judge Lamberth concluded federally funded stem cell research violated a ban on federal money being used to destroy embryos. The ruling did not apply to privately funded embryonic stem cell research. Source
Kenneth Fineberg officially took over the administration of a $20 billion BP Deepwater Horizon oil spill fund set aside to compensate those harmed by the BP oil spill. Source: CBS Evening News, August 23, 2010.
Day577/Aug24th/Tuesday: The President continued to vacation at Martha's Vineyard, Massachusetts.
Vice President Joe Biden, at a Recovery Act Innovation Report Event at the South Court Auditorium, Eisenhower Executive Office Building unveiled a new report, "The Recovery Act: Transforming the American Economy through Innovation," which concluded the Recovery Act's $100 billion investment in innovation was not only transforming the economy and creating new jobs, but helping accelerate significant advances in science and technology that cut costs for consumers, saved lives and helped keep America competitive in the 21st century economy. Transcript of the Vice President's Remarks The report can be viewed in full HERE.
Vice President Joe Biden issued a statement on a new report from the Congressional Budget Office (CBO) on the employment and economic impact of the American Recovery and Reinvestment Act (Recovery Act) declaring "This new analysis from the nonpartisan Congressional Budget Office is further confirmation of what we've been hearing from leading economists, the nation's governors and families across the country: the Recovery Act is working to rescue the economy from eight years of failed economic policy and rebuild it even stronger than before." Source According to the CBO report, "Estimated Impact of the American Recovery and Reinvestment Act on Employment and Economic Output from April 2010 through June 2010, --in the second quarter of 2010, the Recovery Act:
à ‚¬ Raised the level of real (inflation-adjusted) gross domestic product (GDP) by between 1.7 percent and 4.5 percent
à ‚¬ Lowered the unemployment rate by between 0.7 percentage points and 1.8 percentage points
à ‚¬ Increased the number of people employed by between 1.4 million and 3.3 million"
The report can be viewed in full HERE
United States Secretary of Education Arne Duncan announced the District of Columbia, Florida, Georgia, Hawaii, Maryland, Massachusetts, New York, North Carolina, Ohio, and Rhode Island won grants in the second phase of the Race to the Top competition. The winners would share three and a half billion dollars in grants. Video
The United States National Highway Traffic Safety Administration (NHTSA) announced a probe into reports of "defective fuel tank storage systems that present a fire hazard in crashes" in Jeep Grand Cherokee vehicles manufactured between 1993 and 2004. Source
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