Obama Pledges "Historic" $5B for Medical Research

Funds will come out of $787B stimulus package

Wednesday, Sep 30, 2009  |  Updated 9:00 AM PDT
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The president, speaking at the National Institutes of Health, said he is making a "historic commitment" to new research that could help save lives when he spoke Tuesday morning at the National Institutes of Health.

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President Obama said the government will spend $5 billion in grants to help pay for research for cancer cures and to help create tens of thousands of jobs.

The president, speaking at the National Institutes of Health today, said he is making a "historic commitment" to new research that could help save lives when he spoke this morning at the National Institutes of Health.

He said the funding was integral to his health care plan and is designed "to find cutting-edge medical research in every state across America."

The money for the investments will come from the $787 billion stimulus package and represents the "single largest boost" to biomedical research, Obama said.

Get more: AP 

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