Biden Champions Recovery Act Investments in Clean Energy, Science

Insisting that the stimulus plan is indeed working, Vice President Biden Tuesday unveiled a White House report showing that the recovery act's $100 billion investment in innovative industries such as solar energy, electric cars and scientific research is transforming the economy, creating jobs and cutting costs for consumers.

Standing alongside Secretary of Energy Steven Chu, the vice president delivered his remarks to a White House audience of recovery act recipients, including representatives from clean technology companies and scientific research institutions. Biden was enthused as he cited the benefits of the government's investment: "Folks," he said, "this is groundbreaking!" He then outlined four major federal goals:

-- Cutting the cost of solar power in half by 2015 in an effort to make it cost-competitive with retail electricity from the grid;

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--. Cutting the cost of batteries for electric vehicles by 70 percent between 2009 and 2015, making the lifetime cost of an electric vehicle on par with that of a non-electric automobile;

-- Doubling U.S. renewable energy generation capacity and U.S. renewable manufacturing capacity by 2012;

-- Bringing the cost of a personal human genome map to under $1,000 in five years.

Biden touted each objective, highlighting the "good, American jobs" that would be created in the clean energy manufacturing sector, and citing the 16.7 billion homes that could be powered by renewable energy by 2012. "That covers a lot of states!" he proclaimed.

To detractors who have objected to increased funding for scientific projects, Biden credited genome research as part of a larger effort to "win the war on cancer," insisting these are "the things that matter to American people's lives." He added, "I love how our opponents have nitpicked some of the research money we've given to the [National Institutes of Health]. [It reflects the fact that] they know nothing about science."

Highlighting the role that renewable energy might play in boosting the weak U.S. economy, the vice president saved some choice -- and classically Biden -- words for the Bush administration. "The last president -- as my mother would say, God love him -- saw the future in the financial industry. Credit default swaps were not what I call a vision."

It wasn't the first time -- nor will it be the last – that Biden has been cast in the role of White House economic cheerleader. He's spent much of this season on the road as part of an effort the White House has dubbed "Recovery Summer," talking up stimulus program investments across the country and meeting with local officials. Still, the economic news has remained gloomy for much of the summer.

While the vice president delivered his speech, the National Association of Realtors reported a sharp plunge in the sale of existing home sales in July -- down to their lowest levels since 1995 and off 27.2 percent from the previous month. The figures evidenced increasing concerns about the economy and jobs, despite favorable housing market conditions.

Biden, for his part, preferred to focus on the future -- and the possibilities that scientific innovation might offer: "If we are as innovative as we have been in the past, we launch entire new industries...and in the process we spark new forms of commerce that were unimaginable before we started."

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