"The country's suffering an innovation deficit"

Companies have gone on a “hiring strike,” notes Ed McKelvey, a Goldman Sachs economist. Existing firms aren’t expanding much, and not enough new firms are starting. The country is suffering from an innovation deficit.

...American prosperity of the 20th century sprang largely from the country’s longtime lead in educational attainment, a lead that has all but vanished. Future prosperity won’t be based on saving yesterday’s high-wage jobs... It has to start with smarter, more strategic investments in education, physical infrastructure and other things that can create the high-wage jobs of tomorrow. - Dispelling Summer's Myths, by David Leonhardt of the NY Times.

We have the money to invest in education, health care and physical infrastructure...but it's spent elsewhere. We have to decide if we're going to invest in our  children, our future and create an economy that can create the high-wage jobs of tomorrow.