Rather alarming report from the AEA. Main reason for the potential loss of technological leadership ? "U.S. federal funding of research and development (R&D) has declined over the past two decades, the report states: "It peaked in 1987 at $75 billion and still was below this peak by 2002 at $71 billion"

Not a positive trend: while venture capital and private R&D investments contribute greatly to creating and maintaining our cherished national techno-leadership, government initiatives (e.g. defense programs, space program etc.) have been the main catalysts for the major technology quantum leaps of the last 60 years.