Vernon Ehlers: “The key point is this: when we analyze what is causing our economic boom of the past few years, the first major cause is…”

“The key point is this: when we analyze what is causing our economic boom of the past few years, the first major cause is monetary policy, which has largely been headed by Alan Greenspan; next is tax and regulatory policy, where the Republicans in the Congress have made tremendous improvements; and the final and very vital cause is scientific research. If we analyze the economic development taking place today we will find that over half of all economic development is directly related to scientific research, whether it is the Internet, whether it is medical research, any of the other research projects going on. Dr. Bromley's thesis is very simple. He says: no science, no surplus. Why? Because the economic boom we are enjoying now, which has resulted in the first surpluses in the Federal Government since 1969, is to a large extent caused by the scientific research that has been done in the last 2 to 4 decades. If we do not continue to do that research, we are doing a grave disservice to our children and grandchildren...”