Do you mean embryonic stem cells or adult stem cells? There's a very important difference.
Embryonic stem cells exist only in human fetuses that are under a certain gestational age. Adult stem cells exist in humans of all other ages. While it is thought that ESC's will eventually be able to replicate other cells, this has not been proven nor will it be, per best scientific estimates, for at least 35-40 years. Despite the billions that are being thrown at ESCs in states like California.
Adult stem cells, however, have lead to numerous inroads in the treatment of many diseases previously thought dificult to treat, such as Alzheimer's Disease.
Finally, your little swipe at "W" - presumably George Bush - is ill informed. He actually allowed federal government spending for certain pre-existing lines of ESCs.
Looks as if you should read up a bit more . . .