Do you think the US is the only country doing research, and innovating,or that the private sector does all the funding?
Despite the fact that the National Institutes of Health has received significant funding reductions since 2003, the researchers found the United States' decline in research spending was almost entirely driven by reduced investment from the private sector.
In 2007, industry investment accounted for more than 60 percent of the United States' research spending, at $83.3 billion. But by 2012, that number dropped by $12.9 billion, to $70.4 billion, while public investment -- such as spending from the government, educational and research organizations and charities -- held steady. Public spending in the United States actually increased from $48 billion in 2007 to $48.9 billion in 2012.
Public research spending in the United States climbed to $51.4 billion in 2010, and accounted for about 41 percent of the country's total research spending. But NIH funding cuts, including the 5.5 percent (or $1.55 billion) cuts that took effect in March 2013 as part of the sequester, partially caused public spending to decline.