Five years ago, the National Academies published a landmark study calling for U.S. investment in science, technology, and education, warning the nation could no longer afford inaction in these areas. Yesterday, 17 of the 20 original committee members issued an updated version of that report: Rising Above the Gathering Storm, Revisited: Rapidly Approaching Category Five.

The new report notes that, “in spite of the efforts of both those in government and the private sector, the outlook for America to compete for quality jobs has further deteriorated over the past five years” and “the ‘Gathering Storm’ increasingly appears to be a Category 5.” At the official unveiling of the report on Capitol Hill on Thursday afternoon, committee chair Norm Augustine described the report’s key conclusion: the U.S. must make a sustained commitment to investment in innovation in order to ensure its global competitiveness.

CRA’s Policy Blog has much more coverage of the release of the new “Gathering Storm” report, including possible policy implications: http://www.cra.org/govaffairs/blog/2010/09/revisiting-the-gathering-storm-now-approaching-cat-5-status/.

(Contributed by Erwin Gianchandani, CCC DIrector)