Tag Archives: Bureau of Economic Analysis
Dear Research Advocate:
The Bureau of Economic Analysis has reclassified research and development costs from an “expense” to an “investment” when calculating GDP. We think Members of Congress should do the same. Common sense tells us R&D is an investment, not an expense; in general conversation we all talk about R&D as an investment, but it isn’t accounted for that way on the federal books. The arguments we’ve been making are now further bolstered by the BEA’s decision. Spread the word!
One hundred and sixty five university presidents and chancellors, representing all 50 states, have called on the president and Congress to reverse the pending “innovation deficit” in an open letter published last week in Politico before the August recess. With more than half of the economic growth in the U.S. since WWII attributable to innovation — largely due to the nation’s commitment to higher education and federally supported research — our society and our economy are at risk if we continue on today’s trajectory.
These are arguments to use as we work to keep research and innovation in the conversation during the August recess. We have launched a reprise of our social media campaign using the hashtag #curesnotcuts. Please take part, so that policy makers, at home in their districts this month, get the message loud and clear that Americans want medical research to be protected from indiscriminate cuts; so they hear that research and innovation require committed, robust investment. Earlier this week, I was on “Radio Smart Talk” on WITF-FM, a Pennsylvania NPR affiliate. During that show I spoke about the damaging effect of the sequester and fielded questions from listeners. When making your case, you might find it useful to pull from those radio soundbites or from the points we contributed to an editorial that appeared in the The (Newark, NJ) Star-Ledger. Continue reading →