Top CEO’s say U.S. needs to invest at home

Recently, I watched an interview on CNN with a few CEO’s that run or used to run some of the largest companies in the world. The topic of discussion was the American economy and its future. They all had more or less the same message and that was that the U.S. government needs to increase their investments at home. They said that this needs to occur even with a huge debt. They all said that it was imperative for the future prosperity of the U.S. economy.

Most of the CEO’s interviewed were optimistic about the future of the U.S., but said that investments by the government are a must. More specifically, they mentioned government programs like DARPA, which is the research and development arm of the Department of Defense. This program is responsible for the creation of the internet and GPS, among other important inventions that we all rely on everyday. Google CEO, Eric Schmidt said that investing heavily¬†in DARPA today will bring about the next big inventions and companies that will lead the economy in 15-20 years from now.

In addition, investments in education are also crucial. This not only means universities, but also kindergarten-grade 12. Reforming how public teachers are paid and their performance is very important because some teachers are not very good at what they do. The U.S. needs to improve their results in various subjects compared to other countries as they are falling behind in many of them.

Another interesting view these business leaders had was that America always excelled when they were faced with a particular challenge. They all came together during WWII and during the Cold War and that unity combined with investments in research, development and manufacturing led to great economic expansion and prosperity. This is not currently happening and instead the country is very much divided. It is not so easy to change this unless external forces bring this upon them. In fact, most of the concern about America’s future lies in the lack of unity and mission.

If the U.S. invests in R&D programs and education and also figures out how to bring the people around a common goal then the future can strong and bountiful. However, the time do to this is now because other countries like China, India, Brazil and others are catching up.