Obama on Wednesday to announce $5 billion in stimulus funds for National Institutes of Health

Obama to announce $5 billion from stimulus for NIH

WASHINGTON — The National Institutes of Health is getting $5 billion in economic stimulus funds to support research into cures for cancer and other diseases, and to create jobs.

President Barack Obama was making the announcement Wednesday at the NIH campus in Bethesda, Md., with Health and Human Services Secretary Kathleen Sebelius (seh-BEEL’-yuhs).

The money comes from the $787 billion economic stimulus program that is designed to help create jobs and turn around the economy.

Jared Bernstein, who is Vice President Joe Biden’s chief economist, says the $5 billion will support some 12,000 existing projects and create thousands of jobs over the next two years for researchers and educators, as well as medical equipment makers and suppliers.