That's more of a trail project, on its own it's not a long term solution. If it works well then more will be built and an actual system for disposal will be set up. Even though breeder reactors will probably be a better choice for disposal.
I wasn't really referring to the ARC Master 1, you said that:
A) The problem with nuclear waste isn't the amount, it's how long it last and the risk of contaminating the environment and hurting humans' health.
- Actually, the amount is the issue. If there was such a small amount, we could just throw it in the ground like we've been doing.
B) Right now the United States doesn't have anywhere to put nuclear waste. It just sits in a swimming pool in the power plant.
- It's buried at sites in barren deserts encased in cement. Having nuclear waste in a pool would be catastrophic and would cause a massive outcry for worker safety.