PRESIDENT CLINTON ANNOUNCES NEARLY A $3 BILLION INCREASE
Today, in a speech at California Institute of Technology, President Clinton announced that he will include a $2.8 billion increase in the "Twenty-First Century Research Fund" in his FY2001 budget, including a $1 billion increase in biomedical research at the National Institutes of Health and double the largest dollar increase for the National Science Foundation in its 50 year history. These investments will ensure that science and technology will continue to fuel economic growth and allow Americans to lead longer, healthier lives. These investments also will enable America to continue to lead in the 21st century by increasing support in all scientific and engineering disciplines, including biomedical research, nanotechnology, information technology, clean energy, and university-based research. Specifically, this infusion of funds will enable researchers to tackle important scientific and technological challenges, and will lead to:
American prosperity in the 21st Century: With rapid growth, increased productivity and rising standards of living, the U.S. economy is thriving, in large part because of our technological leadership. Science and technology have become the engine of America's economic growth: information technology alone accounts for 1/3 of U.S. economic growth, and is creating jobs that pay almost 80 percent more than the average private-sector wage. Many of the technologies (such as the Internet) that are fueling today's economy are the result of government investments in the 1960's and 1970's.
Longer, healthier lives for all Americans: In the last 100 years, the life expectancy of the average American has increased by almost 30 years, as a result of breakthroughs such as antibiotics. Today, we are on the verge of even greater scientific advances, and continued investment in health-related research could lead to greater life expectancies and better quality of life.
Educating America's high-tech workforce: The President's investment in university-based research will help spur innovations in new technologies and treatment, while preparing the next generation of leaders in science, engineering and technology.
Cleaner energy for a cleaner environment: Research can help America create cleaner sources of energy and energy-efficient technologies, such as fuel cells that emit only water, cars that get 80 miles per gallon, and bioenergy derived from new cash crops.
New insights into the world around us: Increases in funding for science-based research can lead to amazing breakthroughs in our understanding of the world around us and beyond.