By Fareed Zakaria
As I’ve often pointed out, America IS worse off than it was 30 years ago in infrastructure, education and research. The country spends much less than it did on infrastructure. By 2009, federal funding for research and development was half the share of GDP that it was in 1960.
The result is we're falling behind and fast. A decade ago, the World Economic Forum ranked U.S. infrastructure fifth in the world. In its latest report we were 25th. The United States spends only 2.4 percent of GDP on infrastructure, the Congressional Budget Office noted in 2010. Whereas Europe spends 5 percent; China, 9 percent. In the 1970s, America led the world in the number of college graduates; as of 2009, we were 14th among the countries tracked by the OECD. Reversing that decline will cost money.
Watch the video for the full take.