Good Morning. The United States is at risk of losing its edge as the capital of global innovation. In 1968, the country spent 9.1% of its federal budget on basic R&D; today, just 3.6%, the WSJ’s Robert McMillan reports. U.S. companies have also cut back. Until rather recently, much of that basic R&D, which isn’t tied to a particular commercial mandate, came out of corporate labs such as Bell Labs and Xerox PARC. Today, the U.S. relies on the federal government to fund nearly all of that work, and it just isn’t enough.
