If the government were to support cloning research, research funds with either have to be split or added onto. With funds being split, progress and and vital advances would be deferred among research that is already going on today. Since our country is well into national debt, adding funds on to enable cloning research would not be wise.
America, as one people, are not wholly agreed on the circumstances of cloning research. For some, cloning is crossing an important and moral religious line, let alone a scientific one. For others, cloning is seen as a threat to human and animal rights. If our country is not already equally divided on the issue of cloning, the majority is likely not for cloning.
If the U.S. facilitates cloning research, it is likely that other powerful countries will follow lead. There are already many countries who do cloning research, so why make it even more of a global competition? I may also add that there is a wide range of international debt, the U.S. is not the only one experiencing deficit. If any countries should be allowed cloning research, it should be Canada or Sweden; countries that actually have stable economies.
Realistically, the U.S. is not yet prepared to fund cloning research. Why can't we just give the glory to a country who could use it? We don't need to reign supreme over every notable advance ever made, or even try to.