I don't think this is inconsistent, at all. However, many may not like this perspective on his answer.
The President never outlawed research into embryonic stem cells, he only eliminated public funding. It was a Dimmie/Pro-Choice distortion that he "didn't allow embryonic stem cell research". He did, it just had to be privately funded. Similarly, public funds are not being used for Plan B - individuals are free to make a choice.
Frankly, this puts the President far too close to the "Pro-choice" position than I would prefer. However, it IS consistent with the embryonic stem cell position.
Neither the stem cell decision nor this one is a particularly good decision, really. "You can destroy the miracle of life as long as you pay for it yourself" is not a piece of legislation that shows much of a moral backbone.