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Americans Call Innovation Key to Future U.S. Economic Success


January 8, 2010 (SmartPros) But survey shows they also worry that rising federal deficit is pulling nation off track.



The vast majority of Americans, 96 percent, believe that innovation is critical to the future success of the United States as a world economic leader, but they are concerned that the rising U.S. federal deficit will jeopardize the prosperity of future generations, according to a new national survey released today by the Consumer Electronics Association (CEA)®.

The economic survey, conducted by Zogby International, found that 68 percent of Americans think innovation is key to the future success of their place of employment, with 50 percent maintaining that innovation was important for their job remaining in the United States.
 
The poll was released as CEA President and CEO Gary Shapiro joined U.S. CTO Aneesh Chopra for a policy press briefing at the International CES to discuss the state of the U.S. innovation economy in 2010. CES, the world’s largest consumer technology tradeshow, kicked off today and will run through January 10 in Las Vegas.
 
Young Americans, ages 18 to 24, are particularly concerned with the role of innovation to the future success of the United States, with more than 87 percent agreeing that innovation was “very important” to the U.S. remaining a world economic leader, revealed the poll. Likewise, 50 percent of young Americans said that the technology sector, more than any other industry, had the best potential to create future jobs.
 
“For the past century, the United States has been the world leader in innovation, but the American public is concerned that the future of this great nation will be placed in jeopardy by excessive government spending and federal policies that fail to take innovation into account,” said Shapiro. “But despite their concerns they remain hopeful that innovation can be the driving force in a U.S. economic recovery.”
 
While Americans pointed to innovation and technology as key economic drivers, they remained concerned about several looming policy issues: the federal deficit, health-care reform, and the state of U.S. competitiveness relative to other nations.
  • Deficit Seen as Looming Threat to U.S. Economy – Nearly 60 percent of Americans agree at the highest level (level 5 on a five-point scale) that the rising national deficit will have a “major impact” on the prosperity of future generations. But when it comes to reducing the deficit, Americans were largely split on three issues: discontinuing corporate bailouts (23 percent), reducing military spending (20 percent), and relying on the free market to correct the imbalance (31 percent).
  • Medical Innovation Lost in Health-Care Debate – When it comes to health-care reform, nearly 60 percent of Americans said that they were concerned that current path being taken by Congress would be detrimental to medical innovation. Tensions seemed to run high: nearly half of respondents said they were “very concerned.”
  • Next Bill Gates Most Likely From India and China – When asked where the “next Bill Gates will come from,” 40 percent of Americans predicted either India or China.
  • U.S. Will Struggle to Regain Competitiveness Without Innovation – After the World Economic Forum reported the United States dropped its global competitiveness ranking while India, China and Brazil experience gains, 74 percent of Americans said it was unlikely the United States would regain its status next year. But 44 percent pointed to innovation was the most important factor in seeking U.S. competitiveness.
The Zogby survey was conducted November 20-23, 2009, with a sample size of 3,779 U.S. adults over the age of 18.

2010 SmartPros Ltd. All rights reserved.

Source: CEA

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