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Strong Economy

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The Economy: Educate, Innovate and Elevate Expectations

Building the Foundation for the Future

We must rededicate ourselves to preparing the world’s best-skilled, most innovative, and most dynamic workforce.

Competition is on the rise. According to the Center for American Progress,Chinahas increased its share of world economic output from 2 percent to 14 percent.Indiahas more than doubled its output during that period, from 2.5 percent of global production to 5.7 percent. TheU.S.share of the world economy has fallen to 19 percent from 25 percent. Troubling news indeed, but with innovation and courage, we can reinvent our economy. And it all starts with education.

It begins with strengthening the ties between academia and business. Such a partnership benefits both the public and the private sectors. We must advocate for a shared investment in science and technology grant program that is specifically structured to incentivize talent and stimulate innovation. Establishing the primacy in human capital investments is the key toU.S.long-term economic competitiveness and sustainable prosperity. By taking a chance on talent we can win innovations’ rewards. Additionally, by supporting programs that link classrooms with boardrooms we help to carry students’ daring ideas into the marketplace. This is how we build an economy to last.

I know businesses can find the talent and technologies they’ll need by participating in the research and training transition. By uniting universities research wealth and entrepreneurial daring, we can build partnerships that lead to economic stability.

We must also refocus our local resources and retrain local workforces to achieve economic development that is both regional and sustainable.

I also believe that we must work to repair the spirit and confidence of the American people. Hard work and perseverance are the sure way to better day. However, that optimism has not borne true for many. Any solution must begin by instilling a can do attitude in ourselves and our country.

Finally, fixing the economy is not the sole responsibility of the federal government. That task falls more on us, as individual citizens, as partners, as families and as members of the business community. Government’s role is to ensure that each and every one of us is allowed fair opportunity to achieve. In times of high unemployment, government can create short-term work/ education programs that lay the groundwork for sustainable employment. Yet that stimulus while able to put people back to work, cannot jump start an economy. And that is the point; there is no short term; no quick fix, no tax incentive program that will spur the next economy. We need a long view.