Fight "Growth Deficit" with more public investment in R&D

[JohnWxy]

To Combat “Growth Deficit,” Invest in R&D While Cutting Elsewhere

"...federal funding for R&D as a fraction of GDP has declined by 60 percent during the last 40 years, and today it accounts for only about one-third of all R&D spending with industry accounting for most of the rest. Federal funding remains the primary source of support for basic research on fundamental scientific questions. And it has been critical to the development of many commercially successful technologies including new drugs, fiber optics, magnetic resonance imaging, computer-aided design and manufacturing technologies, data compression, and the Internet."