How Has the Economic Crisis Affected Biomedical Research?

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We are not taking full advantage of the opportunities that lie in front of us right now. An applicant who comes day and night with their best idea has only now one chance in six of being funded. Traditionally that's been one in three. That means that there is a lot of talent out there that's really struggling to keep going.

We can make a strong argument and we have that this is not only the best way to advance human health, it's probably one of the best ways to get our economy going again because all this effort to support our indeed creates jobs, creates economic growth. And you can also look at what's happening across the world and say if America wants to remain competitive, this will be a great way to do it and we are losing ground.

So in NIH, our investment in bio-medical research research has been flat since 2003 which really means on the basis of inflationary erosion of our purchasing power, we are down by about 20% over what we were, and yet other countries are investing much more steeply now. China, India, Russia, Brazil, we are at risk of losing our edge, and that worries me because we have a enormous history here of success, and research and we have some of the best and brightest people coming to our shores and growing up here, and we are not really empowering that engine the way that we.