Published October 1990 — Download PDF of the original newspaper column
Byrd's-Eye View By U.S. Senator Robert C. Byrd Investing in America's Future Since 1981, under the Reagan and Bush Administrations, America's national debt has rocketed from slightly under $1 trillion, accumulated by thirty-nine presidents over nearly two centuries, to more than $3.3 trillion. Few would argue that we need to reduce this staggering debt load. At the same time, however, we have a duty to invest in the foundations on which tomorrow's economic strength and national security will depend. Throughout the past decade, federal investment in roads, bridges, airports, educational systems, community health-care programs, and non-defense research and development has been neglected. Currently, the United States spends a smaller percentage of its annual wealth on these programs and efforts than do Japan, Germany, France, Britain, Canada, or Italy. As a result, real U.S. economic growth is stagnating. Two decades ago, U.S.-produced automobiles and consumer electronics were nearly unchallenged in our domestic markets. Today, however, foreign manufacturers have captured one third of America's domestic automobile market and 95 percent of our consumer electronics market. Average U.S. wages, adjusted for inflation, have been falling since the early 1970's, with today's U.S. worker enjoying less real buying power than in 1972. The long-term solution to America's deficit problems will require investing in those assets and resources; such as physical infrastructure, technology, and education that will make America more productive and more competitive in world markets. As Chairman of the Senate Appropriations Committee, I am doing all that I can to obtain federal funds to invest in West Virginia's future economic foundations: Appalachian corridor highways, public water and sewerage systems, bridges, the FBI's 2,500-employee Identification Division, the replacement radio telescope at Green Bank, hardwoods-industry research and development, tourism development, flood control, airport improvements, small-business and defense-industry contracting, coal and energy research, and high-technology research and expertise development, to name some investment efforts. My commitment is to put into place the kind of improved infrastructure that will prepare West Virginia to compete and prosper in the twenty-first century. October 10, 1990