[Astrokid248]

Yes, so instead of trying to get existing programs back on their feet, restructuring them, eliminating waste and bureaucracy, and making what we already have work again, the administration is going to create a new money-wasting initiative with even more silliness. Essentially, it's just throwing money at the problem.
"The Materials Genome Initiative, would invest more than $100M in research, training and infrastructure to enable U.S. companies to discover, develop, manufacture, and deploy advanced materials at twice the speed than is possible today, at a fraction of the cost." As far as I can tell, this means that the initiative will spend more money to save money. Why can't the companies discover and develop these materials themselves? Because there is no need to right now. As soon as the need arises, private companies will respond with new materials for safer, more efficient operations. Speeding up the process will merely waste current money and halt progress on current problems.
"Investing in next-generation robotics: The National Science Foundation, National Aeronautics and Space Administration, National Institutes of Health and the Department of Agriculture are coming together to make available today $70 million to support research in next generation robots." Um...... Google "Robonaut" and you'll see why this is silly. Put the money in NASA's budget rather than in some separate "initiative" and you'll get much more progress. There is a humanoid robot in space! If that's not next-gen, I don't know what is. Oh wait, I do, it's a humanoid robot mounted to a super-mobile rover base that will drive around on Mars. NASA has plans for it, but because of the budget cuts, it can't complete the project.
"Starting this summer, the Departments of Defense, Homeland Security, Energy, Agriculture, Commerce and other agencies will coordinate a government-wide effort to leverage their existing funds and future budgets, with an initial goal of $300 million, to co-invest with industry in innovative technologies that will jumpstart domestic manufacturing capability essential to our national security and promote the long-term economic viability of critical U.S. industries." Guess what? This happens automatically any time there's a war, without prompting from the president. World War II saw planes go from kites-with-propellers to sleek, swift dogfighters and hulking bombers. The recent Iraq War lead to an immense surge in robotics technology, with robotic tanks, equipment carriers, bomb diffusers, and scouts taking to the battlefield. And while we're technically in two wars now, they are such small conflicts (comparatively) that private industry isn't going to respond as strongly.
"Commerce Department development of an advanced manufacturing technology consortium, starting with $12 million in FY12, to identify public private partnerships to tackle common technological barriers to the development of new products." The only tech barriers I can think of are the laws of physics and the high price of brand-new technologies. The real barrier though is the Patent Office, which makes it almost impossible to develop new products.
"Proctor & Gamble announcement that it will make available advanced software at no cost to American small and mid-sized manufacturers through the recently launched Midwest Modeling and Simulation consortium. This is a highly valuable digital design tool usually unavailable to smaller firms." I highly doubt this has anything to do with the initiative. More likely is that Proctor & Gamble sees a way to profit from handing out free software. As those manufacturers get bigger, they'll want even more advanced software, and P&G will be there with software to trade for coin.
It would be a lot better if the government would consolidate redundant programs, cut out bureaucracy, and stop coming up with dumb initiatives.