The Science of Recovery
Investing In Research Is Investing in the Future
SOURCE: AP/Tim Roske
President Barack Obama delivers a speech on innovation at Hudson Valley Community College in Troy, N.Y.
Print
Rush Holt represents the 12th congressional district of New Jersey.
In a speech at Hudson Valley Community College on Monday, President Obama highlighted his administration’s strategy to foster sustainable economic growth and quality job creation. I applaud the President’s strategy to build a sustainable economy for the future through a renewed focus on education, infrastructure, and research. If we are to avoid the perils of a bubble economy, we must ensure that our nation has the tools necessary to build the new industries and enterprises that will lead to widely shared prosperity.
The President recognized that “When we fail to invest in research, we fail to invest in the future.” For decades, we have underinvested in our nation’s R&D infrastructure. The $22 billion in research funding I worked to include in the American Recovery and Reinvestment Act was a down payment on our economic future. I look forward to working with the administration and my colleagues in Congress to ensure that we meet the President’s commitments to doubling the R&D budgets of our basic science agencies and investing at least 3 percent of GDP in public and private research and development.
The President also said, “I firmly believe that the nation that leads the clean energy economy will be the nation that leads the global economy.” I could not agree more. As Congress continues to weigh a response to the challenges of climate change and energy security, we must make robust investments in the research and development that will transform our energy sector. We can and should be the nation that creates and produces the energy technologies that are necessary for a sustainable future.
The United States retains an unlimited potential for discovery, entrepreneurship, and prosperity. If we choose to unleash that talent, we can lead the world in innovation and dispel the uncertainty that has gripped us in recent years.
Rush Holt represents the 12th congressional district of New Jersey.
Comments on this article
Rep Rush Holt (who represents my constituency) has pointed to an urgent priority that augurs well for the need to invest in R&D (both process and product aspects). The US has fallen behind a number of nations in its R&D efforts during the past decade and this has to be reversed. Besides, a good proportion of R&D budgets must be geared toward climate chnage aspects. An aggregate 2 to 3 percent growth in innovations-led productivity will offset much of potential losses due to climate change. However, this is not to say that a number of direct interventions are essential for mitigating climate change impacts. Rep Rush Holt can help in the later as well.
September 26th, 2009 at 7:14 am