He sailed between london and port royal jamaica which was known as the wickedest city on earth. For years he did that responsibly and nobly. But then one day in 1684, for reasons no one can quite determine, Joseph Bannister stole the golden fleece, recruited a pirate crew and turned pirate. Tonight at eight about eastern and pacific on cspans q a. Up next, a forum on strengthening federal investments and Scientific Research as a way to help grow the economy and create jobs. We will hear from former House SpeakerNewt Gingrich as well as a panel of researchers and academics. It is part of what is called the middle class prosperity project launched by senator Elizabeth Warren and congressman elijah cummings. Start the middle class prosperity project for them. Why is the middle class prosperity project holding a hearing on the importance of federal funding for research . The reasons are three, and they are all deeply interrelated and related to the future of americas middle class. Investments in research produced good jobs right here in america. Breakthroughs in research are our best chance to keep from bankrupting our country and from bankrupting the entire middle class. Keeping us from going broke overall timers, diabetes, and all of the other costs of medical care. And, research will give us a chance to live better lives. American innovation has changed the world. Scientific advances like supercomputers, the internet, sequencing the human genome, and treatments for polio, cancer and hiv have saved lives and created good jobs for middleclass americans. Economists agree that advances in science and technology have been the predominant driver of gdp growth over the past halfcentury. Today, 2. 7 million to 2. 7 million americans working jobs focused on Scientific Research and many more are employed by the Country Companies built right new innovations. Companies like google and facebook. For every dollar invested in the National Institute of health for example, we get about two dollars 2. 20 back. Private industry is great at developing new inventions and scientific developments that have a clear application, but basic research, the kind where applications are not clear yet dont get as much investment and that is where we need government. Government provides patient capital, the kind that can wait for longterm results. An american president once said although basic research does not begin with a particular practical goal, when you look at the results over the years it turns up being one of the most practical things governments does. That president was ronald reagan, a fiscal conservative who understood the value of investing in american innovation. For decades, investments in science have been a bipartisanpriority, but today washington has lost sight of that priority. Everyone, republicans and democrats, say that investing in science and innovation is a good idea. But talk is cheap. We need action. And we have not had any in a very long time. One proposal moving through congress is the 21st century cures act which requires about 1. 2 billion a year for five years, in new funding for nih. Thats held a good start, and it is. But it is not nearly enough. Todays nih budget, adjusted for inflation, is 12. 5 billion less than it was in 2003. That is a 25 reduction in our federal investment in nih alone. Even worse the bill does not include a maintenance of effort provision, which means theres nothing to stop congress from cutting the nihs base budget at the same time that it adds new money on top. If that happens, instead of expanding, our investment in the nih under this bill could actually shrink. Earlier this year i introduced this medical innovation act which would help rebuild the nih budget. It could boost nih funding by about 20 , is it achieves that increase without raising taxes without getting vital programs, and without adding to the deficit. Dozens of dr. Organizations patient groups, and scientific associations have supported it. Every republican, every democrat, and every independent in congress could support it too. Members of congress are responsible first deciding whether we make these investments in our future or whether we just talk talk talk about them. The American People deserve better. That is why we are holding this forum. To have a real discussion about what we can and should do to get more money. Im very pleased that we House Speaker gingrich here to talk about his studies, and to talk about what it takes to make real effective bipartisan progress. There are many things that the speaker and i disagree on, but we agree that research is a fundamental responsibly of our leaders and it is long past time to meet the response ability. We also have a respectable panel of leaders. We all agree that government should do a better job of supporting investment in science. I am very glad that you are here. Congressman cummings, would you like to make a few remarks . Thank you very much. Its an honor to join this, the sixth floor and we have convened. Today we did examine how our Nations Research and development have charted a path of progress. Over seven decades since the end of world war ii, creating millions of middle class jobs in the process. American ingenuity is unmatched in the history of the world. We help new discoveries leap from the lab to the marketplace in a way that is the envy of countries all over the globe. According to as a result of funding appropriated by congress they awarded tens of thousands of Research Grant per year. Federal funding through progress like this Small BusinessInnovation Research has been critical to help researchers and on partners and entrepreneurs find new product and technology that improve the lives of millions of people while creating entirely new industries and the jobs that come with them. In 1961 president kennedy called on america to make a National Commitment to scientific and technical manpower and facilities. The United States became the first and only nation to put astronauts on the move mood. Similarly the effort to decode the human genome has led to new treatment for some of our most devastating diseases. This has also created a norm is benefits. According to batal memorial institute, our Government Investment in the human genome project helped generate an Economic Impact of 796 billion between 1998 and 2010. This is a massive return on investment of 14 to 1,. The question before our nation now is what story will right in the 21st century . Would be one of new a kabul schmidt, scientific progress, and continued Economic Growth . Or will it be one where we decide we can no longer afford the next big discovery . Will you remain the world leader in Scientific Research and develop its . Or will we succumb to a culture of mediocrity and watch as other nations outpace our investments or discovery, and our progress. In 20 in 2009 the economy recovery act contributed more than 20 billion. In 2013, sequestration and cuts that began solely after the recovery act was passed. According to the American Association for the advancement of science, our nations federal research and Development Budget declined by more than 26 billion from 2010 to 2015. That is a drop of 16 . The uncertainty our Research Institutions face has had devastating impact on research initiatives. These cuts are shrinking the pipeline from which discoveries and inventions will emerge 10 or even 20 years from now. The decisions we are making from a shortterm perspective of the annual budget cycle are shaping the nation and the economy we will leave to our children. We needed to make sure that they inherit a country that continues to lead in scientific innovation , that creates a better world and a stronger economy, and that promotes a broad and pop prosperous middle class. I am pleased to join senator warren in welcoming speaker gingrich to todays for them i service regarding marriage during my first terms in congress, and i thank him for his leadership. I also welcome our distinguished members of the second panel. We have an Extraordinary Group of experts assembled today. It is an honor to have this opportunity to hear from each of you. I yield back. Thank you congressman. We are honored to welcome the former speaker of the house of representatives, nook Newt Gingrich, to todays forum. These come down. Congressman gingrich. [applause] good to see you here. Congressman gingrich represented georgias sixth Congressional District from 1979 to 1999, from 1995 to 1999 he was the 58 speaker of the house of representatives. I just want to make one note. I join senator warren in welcoming speaker gingrich to todays forum. Not only did i service regarding grudge bigger gingrich, but i failed to say that he gave my parents one of the greatest thrills of their lives. With both of my guys having less than a sixth grade education having been warmer sharecroppers from south carolina, use for me in you swore me and, and you took a moment after the swearingin to speak my parents. And i will forever be grateful. Thank you and welcome. Would you like to start . Know he is going to start. Speaker gingrich. Let me thank both of you, and let me say, congressman cummings, i am delighted to have had the opportunity, and i appreciate your bringing your parents. Its one of those Magic Moments the first time you get sworn in. The whole family is there. Thank you senator warren, thank you for rushing back. I can appreciate how hectic your schedule is. When you first called me i was frankly both surprised and delighted. I am glad to be her. Im really delighted to be here to discuss the role funding for research and development, a topic that has the potential to transform the lives of millions of americans of all backgrounds and critically to bring together liberal democrats and conservative republicans. Before i offer a few general principles for how to think about federal Research Funding let we start with an example that is close to my heart, and that is finding cures for the most common and Serious Health problems. This is a challenge that is important, it is urgent, and now there is great hope that it is doable. It is important because every one of us has been touched on the devastating effects of problems like alzheimers disease, dementia, cancer kidney disease, and parkinsons. We know how debilitating they can be how they observe the energies of Family Members and caretakers. How they strain the finances of even welloff families. From a fiscal, as well as a human perspective funding finding cures for these diseases is urgent. I chaired the Alzheimers Group for over three years. We learned that over the next decade americans will spend 20 trillion on alzheimers and other dementias. That is more than a full years gross semester product. Imagine all the money in the country for an entire year would go just to this. The taxpayers are on the hook for much of it, including an estimated 420 increase in costs to medicare, and 330 increase in cost to medicaid. These of course are just too out of many programs. The federal funding for research to cure all timers is only a tiny fraction of the money the government is already spending to treat alzheimers every year. The nih spent 731 million on Dementia Research this year less than one half of 1 of the 154 billion medicaid and medicare are spending to treat it. Part of the reason for the imbalance is that National Health funding has been cut more than 20 in real terms since 2003, the end of the fiveyear doubling of the nih budget which we achieved on a bipartisan aces in the 1990s. Given the costs we know are coming, boosting Research Funding may be the most fiscally responsible step we can take. I want to emphasize this, this is probably one of the places where i bring a unique background. We balanced the federal budget for four straight years. The only time in your lifetime and the federal budget has been balance for four years. We did it well doubling the nih budget. But i want to make a deeper point about the future. With the baby boomers aging, if we do not find a researchbased solution we will never balance the federal budget, because we will never impose the regulatory pain that it would take to balance the budget. This really means people not getting treated. People being in miserable circumstances. Remember that would alzheimers caretakers are quite twice as likely to quit. You also have the caretaker population, both at risk. The good news is, curing alzheimers and other major diseases appears more doable today than any time in history. Thanks in no small part to basic research and development funded by the federal government. We have created extraordinary breakthroughs in biology genetics, computation, and materials. We have shown Real Initiative with the brain initiative. Today the nih is. Pioneering the development of immunotherapies which attacked diseases like cancer, rather than relying on surgery, chemotherapy, radiation. To allow Research Funding to languish at a time of historic opportunity when we could be saving lives and saving money takes a special type of stupidity that is reserved i should notice in an exception the great work of chairman upton and their colleagues in the house. At the 21st Century Cares Initiative is one of the most important and bipartisan efforts in congress in recent years. I know that in addition to senator warrens initiative senator rod johnson is working very hard in the same direction. In addition to the drastic increases to Research Funding, i call to double the nih budget. I would also call for an increase in the National Science foundation, which i think was the one mistake we made in Research Funding. We should have tripled it, which is much smaller, when we doubled nih. Let me quickly put out to bold big ideas about Research Funding. The first is research bonds. For large, very expensive product projects with the potential to demonstrate huge savings if they work, it is worth expiring issuing bonds to finance research which would then pay out a fraction of the savings. This would have the benefit of taking important projects off budget and raising much larger sums of money than the federal government is likely to. We currently are developing this idea for Brain Research bonds. Congressman Michael Brooke and sandy harris in the house have proposed a version of this idea with the mind act, all Cyber Research bonds. Similar models could apply to large intercessor investments. As governor mitch daniels, John Kasich Arnold Schwarzenegger have all demonstrated with Innovative Strategies for financing major roadways in their states. If we simply rationalize the bureaucratic review process, we could create 3 million more jobs with the same appropriation. Finally, for research and development, i am a big supporter of prizes. Prizes are good for a couple of reasons. Worse, taxpayers dont pay a thing until the goal is actually achieved, and they never pay more than the president. Second, you get lots of competing strategies for solving the problem when you have all of the groups working independently to get the prize. This competition means you get better results that are far more efficient in cost and contracting. And you and up with several working designs. I would radically rewrite and many of our efforts in space and transportation procurement around prizes to accelerate the competition and development. With that that sweeping overview, i look forward to your questions. Speaker gingrich, i want to thank you for your insightful presentation. You argued, and i quote, that it is irresponsible and shortsighted, not prudent, to let financing for basic research dwindle. What do you think are the main reasons we have left financing for basic research dwindle . I think there are probably two or three big reasons. One is that the past has lobbyists, and the future has publicists. In this country and the city lobbyists often beat publicists. Second i think that there are those fiscal conservatives who are sort of antigovernment and wait it makes no sense. Its a little bit like the woman who once said, to stop trying to go to the moon. Say home and watch television the way god intended. People have no notion of the power of the government. That airplane you ride in as a passenger, or the computer you are using or the internet, or thousands different things. Government investment in this country, from the very beginning. We are the only country in the world and created a Patent Office in our constitution. We were founded by people who believe in the future. Third, i think we have allowed welfare state spending and other bureaucratic spending to crowd out investment. If you go back and look at the percentage and the size of the government that we were spending on investment in research, investment in infrastructure, 30 or 40 years ago, it was dramatically bigger than. All of this has to be changed. One of the reasons ive recently like all the response is i dont think we are going to win the fight. We will make some critical progress, but compared to the size of the title wave of illness that is coming down the road as people age, we are not goin