President Bush has expanded stem cell research, not reduced it. He is the only president to authorize embryonic stem cell research on the existing cell lines with Federal funding. Before there was no Federal funding whatsoever for this research.
In addition, funding is being increased for stem cell research on stem cells obtained from adults and umbilical cords - both of which are on the only type of stem cells demonstrated to have a positive medical benefit when applied. A number of ailments have been treated via these stem cells. If money is going to spent on research, let's do it with something we know is actually going to work and will provide benefits in exchange for the cost.
"In addition, funding is being increased for stem cell research on stem cells obtained from adults and umbilical cords"
Actually, umbilical cord stem cells are adult stem cells.