Stem Cell Issue Thankfully Dead (almost)

Nature online is reporting that scientists at MIT are now able to "switch" cells. They reprogram skin cells in mice to be used as embryonic stem cells. While this procedure may not be the end-all, it does prove a point about government funding.

Since the government has no need to respond to price signals, it should not attempt to reallocate resources. Stem cell funding is the perfect example. Once the government begins to offer greenbacks for research on stem cells then researchers will flock to that type of research. It distorts the market.

That doesn't even take into account the ethical issues. Is it ethical to forcibly take a persons money through taxes and allocate it to something that person believes is wrong? I'm glad that there is a possible replacement for embryonic stem cells, but i would be elated if government would stay on the sidelines of science.