Americans know that investments in education and scientific research pay long-term dividends. Federal support for scientific research and student financial aid laid the foundation for the dramatic expansion of the 20th century U.S. economy and can do
the same in the 21st. These investments produce the people and the ideas that lead to new products, new businesses, and entire new industries, as well as the jobs that go with them. Members of both political parties believe that a long-term deficit reduction agreement should specifically incorporate such investments. For example, the majority report of the bipartisan Bowles-Simpson Commission stated, “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.”
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