Yes. After launch, it will go into a low orbit for a few months and then decay and fall back to Earth.
Carbon Copy’s Russ Blinch writes at Huffington Post:
Obama will no doubt outline how the planet is in crisis from global warming, which it is. But he also needs to sell Americans on how tough new standards for carbon polluters can lead to innovation in the broader economy. And in his Sputnik moment, he needs to say the United States risks falling behind its modern-day competitor, China, if it does not act.