In a recent report, the U.S. Commerce Department stated that the U.S. is losing its competitive edge in the global economy. In the report, Commerce Secretary John Bryson, stated that “Our ability to innovate as a nation will determine what kind of economy – what kind of country – our children and grandchildren will inherit.” The report points out a relative lack of innovation in many industries but especially in the tech industry. Historically, the U.S. has run a trade surplus in advanced technology products. However in 2010, we ran an $81 billion trade deficit. The report blames the deficit on the poor economy, and the relatively small number of students graduating with degrees in Science, Technology, Engineering, and Math.
U.S. report sees perils to America’s tech future [Computerworld]