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Task Force Praises Bowles-Simpson Report's Commitment to Research and Education


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Following is a statement by the Task Force on American Innovation on the report of the National Commission on Fiscal Responsibility and Reform, chaired by Erskine Bowles and Alan Simpson:

The Task Force on American Innovation commends the National Commission on Fiscal Responsibility and Reform for recommending that the nation make predictable and sustained federal investments in research and education a high priority, even as it takes needed action to reduce federal budget deficits.

As representatives of high-tech and other industries, universities, and professional societies, we strongly agree with the Bowles-Simpson Commission majority that "we must invest in education, infrastructure, and high-value research and development to help our economy grow, keep us globally competitive, and make it easier for businesses to create jobs."

Getting budget deficits and the national debt under control is essential to strengthening the nation’s economy and to improving the living standards of future generations of Americans. However, predictable and sustained federal investments in research and education are also essential to our country's ability to remain competitive in the global economy. This is a principle that we endorsed in an October 13 letter to the Commission, and the Commission has endorsed it as well.

The Commission notes that one of the important reasons for reducing deficits is to permit continued investment in the future. As the report states, "We must continue to invest in our future, but must not undermine those investments by leaving generations yet to come with a debt they cannot repay."

Deficit reduction and robust investment in research and education are not contradictory. When it comes to the future prosperity of all Americans, they go hand-in-hand. We hope the President and the Congress will work together to achieve these goals.


 

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