/PRNewswire-USNewswire/ -- Republican National Committee (RNC) Chairman Robert M. "Mike" Duncan released the following statement on Monday.
"It's extremely disappointing that Democratic leaders in Illinois are ignoring bipartisan calls for a special election to fill President-elect Barack Obama's Senate seat. Considering the scandal surrounding Governor Rod Blagojevich's administration, a special election is the only way to credibly fill the seat. I hope that Illinois House Speaker Michael Madigan puts good government before partisan politics, and will heed Senator Durbin's call for a special election."
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Tuesday, December 16, 2008
Monday, December 15, 2008
FCC to Consider Next Entity for Taxpayer Bailout
/PRNewswire-USNewswire/ -- If the Federal Communications Commission (FCC) moves forward with plans to create a government-operated nationwide wireless network provider at an up-coming meeting scheduled for Dec. 18, it will create yet another government-mandated entity at risk for failure and future taxpayer bailout.
The FCC plans to use this week's meeting to vote on a proposal to auction 25 megahertz of spectrum to be used as a free national wireless network operated by a single provider, creating a new government sponsored enterprise in the tradition of Fannie Mae and Freddie Mac.
According to the IPI publication, "Should the U.S. Favor a Free Nationwide Wireless Network Provider?"
(http://ipi.org/ipi/IPIPublications.nsf/PublicationLookupFullTextPDF/94BE0 017C8D28CFB862574CE00596D98/$File/NationwideWireless.pdf?OpenElement)
Author and IPI adjunct fellow Solveig Singleton warns the plan is risky.
"This kind of company would not be allowed to fail and therefore sets up a future bailout at taxpayer expense," she says.
The risk of failure is substantial, says Singleton: "The entity will have little flexibility to change business models if it finds itself in trouble."
In the report, Singleton recalls how other failed municipal Wi-Fi plans, including one proposal for the city of Portland, Ore., found the deal uneconomical and unsuccessfully tried to bow out.
Furthermore, in the event the auction winner is headed for bankruptcy and collapse, Singleton warns supporters of the plan if they are prepared to allow the entity to fail.
"Policy makers should keep the federal thumb off the broadband competition scales and stay out of the business of designing broadband business models," Singleton concluded.
The Institute for Policy Innovation is an independent, non-profit public policy organization based in Dallas, Texas. Copies of the publication, "Should the U.S. Favor a Free Nationwide Wireless Network Provider?" are available by visiting www.ipi.org .
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The FCC plans to use this week's meeting to vote on a proposal to auction 25 megahertz of spectrum to be used as a free national wireless network operated by a single provider, creating a new government sponsored enterprise in the tradition of Fannie Mae and Freddie Mac.
According to the IPI publication, "Should the U.S. Favor a Free Nationwide Wireless Network Provider?"
(http://ipi.org/ipi/IPIPublications.nsf/PublicationLookupFullTextPDF/94BE0 017C8D28CFB862574CE00596D98/$File/NationwideWireless.pdf?OpenElement)
Author and IPI adjunct fellow Solveig Singleton warns the plan is risky.
"This kind of company would not be allowed to fail and therefore sets up a future bailout at taxpayer expense," she says.
The risk of failure is substantial, says Singleton: "The entity will have little flexibility to change business models if it finds itself in trouble."
In the report, Singleton recalls how other failed municipal Wi-Fi plans, including one proposal for the city of Portland, Ore., found the deal uneconomical and unsuccessfully tried to bow out.
Furthermore, in the event the auction winner is headed for bankruptcy and collapse, Singleton warns supporters of the plan if they are prepared to allow the entity to fail.
"Policy makers should keep the federal thumb off the broadband competition scales and stay out of the business of designing broadband business models," Singleton concluded.
The Institute for Policy Innovation is an independent, non-profit public policy organization based in Dallas, Texas. Copies of the publication, "Should the U.S. Favor a Free Nationwide Wireless Network Provider?" are available by visiting www.ipi.org .
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WashingtonWatch.com Update: The Auto Bailout, a Retiree Tax Break, and the Blagojevich-Obama Connection
/PRNewswire-USNewswire/ -- This is the WashingtonWatch.com federal legislative update for the week of December 15, 2008.
On the WashingtonWatch.com Blog
Illinois Governor Rod Blagojevich's attempt to sell the Senate seat formerly occupied by Barack Obama has captured the headlines. The WashingtonWatch.com blog has an unusual take on it in a post called "The Blagojevich-Obama Connection."
http://tinyurl.com/5e9emv
Last week, the House of Representatives passed a bill to provide federal support to the "Big Three" automakers.
H.R. 7321, the Auto Industry Financing and Restructuring Act would have provided funding sufficient to cover the costs of up to $14.0 billion in bridge loans or commitments for lines of credit to U.S. auto manufacturers.
The cost of the legislation is a little under $90 per U.S. family. Late in the week last week, it appeared that the Senate would not pass the legislation.
H.R. 7321
The Auto Industry Financing and Restructuring Act
Costs $87.75 per family
What People Think: 27% For, 73% Against
http://www.washingtonwatch.com/bills/show/110_HR_7321.html
Last week, both Houses of Congress passed H.R. 7327, the Worker, Retiree, and Employer Recovery Act of 2008. Along with making technical corrections related to the Pension Protection Act of 2006, the bill waives required minimum distribution rules for certain retirement plans and accounts.
The tax savings in the bill save the average U.S. family about $30. The bill now goes to the President, who is likely to sign it into law.
H.R. 7327
The Worker, Retiree, and Employer Recovery Act of 2008
Saves $30.72 per family
What People Think: 57% For, 43% Against
http://www.washingtonwatch.com/bills/show/110_HR_7327.html
Displayed below are new, updated, and passed items with their cost or savings per family.
New Items
H.R. 7327
The Worker, Retiree, and Employer Recovery Act of 2008
Saves $30.72 per family
http://www.washingtonwatch.com/bills/show/110_HR_7327.html
H.R. 7321
The Auto Industry Financing and Restructuring Act
Costs $87.75 per family
http://www.washingtonwatch.com/bills/show/110_HR_7321.html
Updated Items
S. 3715
The Auto Industry Emergency Bridge Loan Act
Costs $11.59 per family
http://www.washingtonwatch.com/bills/show/110_SN_3715.html
Passed Items
none
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On the WashingtonWatch.com Blog
Illinois Governor Rod Blagojevich's attempt to sell the Senate seat formerly occupied by Barack Obama has captured the headlines. The WashingtonWatch.com blog has an unusual take on it in a post called "The Blagojevich-Obama Connection."
http://tinyurl.com/5e9emv
Last week, the House of Representatives passed a bill to provide federal support to the "Big Three" automakers.
H.R. 7321, the Auto Industry Financing and Restructuring Act would have provided funding sufficient to cover the costs of up to $14.0 billion in bridge loans or commitments for lines of credit to U.S. auto manufacturers.
The cost of the legislation is a little under $90 per U.S. family. Late in the week last week, it appeared that the Senate would not pass the legislation.
H.R. 7321
The Auto Industry Financing and Restructuring Act
Costs $87.75 per family
What People Think: 27% For, 73% Against
http://www.washingtonwatch.com/bills/show/110_HR_7321.html
Last week, both Houses of Congress passed H.R. 7327, the Worker, Retiree, and Employer Recovery Act of 2008. Along with making technical corrections related to the Pension Protection Act of 2006, the bill waives required minimum distribution rules for certain retirement plans and accounts.
The tax savings in the bill save the average U.S. family about $30. The bill now goes to the President, who is likely to sign it into law.
H.R. 7327
The Worker, Retiree, and Employer Recovery Act of 2008
Saves $30.72 per family
What People Think: 57% For, 43% Against
http://www.washingtonwatch.com/bills/show/110_HR_7327.html
Displayed below are new, updated, and passed items with their cost or savings per family.
New Items
H.R. 7327
The Worker, Retiree, and Employer Recovery Act of 2008
Saves $30.72 per family
http://www.washingtonwatch.com/bills/show/110_HR_7327.html
H.R. 7321
The Auto Industry Financing and Restructuring Act
Costs $87.75 per family
http://www.washingtonwatch.com/bills/show/110_HR_7321.html
Updated Items
S. 3715
The Auto Industry Emergency Bridge Loan Act
Costs $11.59 per family
http://www.washingtonwatch.com/bills/show/110_SN_3715.html
Passed Items
none
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Saturday, December 13, 2008
PrimeRevenue Sees $50 Billion Benefit for Big Three and Suppliers With Government-Backed Finance Option
(BUSINESS WIRE)--PrimeRevenue described a program today outlining how a US government-backed initiative could provide 18 to 24 months or more in operational cashflow for the Big Three and their US-based direct suppliers. The value of the supply chain finance program, which could be deployed within a few weeks, is highlighted by recent published reports of automotive suppliers seeking cash advance payment on receivables in light of the current financial turmoil in the industry.
The program’s operation is based upon an underlying federal guarantee of Big Three payables to their direct suppliers. Unlike a loan, this guarantee would act as a ‘backstop’ to the Big Three’s payables, effectively honoring payment of those obligations in the event of a default. Private sector financial institutions would rely on the government guarantee to fund the early payment of receivables at rates highly favorable to the suppliers, providing a working capital improvement opportunity for both sides of the supply chain relationship.
“The US automotive industry has been deeply affected by the current turmoil in the credit markets,” said Joe Juliano, CEO of PrimeRevenue, “While not a panacea, Supply Chain Finance can be implemented quickly to support the liquidity needs of US auto companies and their suppliers, while at the same time unlocking significant bank funding, to help buy the time necessary to make these businesses successful again.”
James D. Robinson III, former Chairman and CEO of American Express Company, and General Partner, RRE Ventures is a board member of PrimeRevenue. In supporting the program, Mr. Robinson stated, “Supply Chain Finance provides a meaningful complement to solutions on the table today. Together with other government and industry initiatives, this approach directly can help the auto suppliers and the Big Three generate immediate working capital.”
A Supply Chain Finance (SCF) platform is a secure website that links payment information between companies, their suppliers, and financial institutions. Companies publish their payables information to the platform, well in advance of the payment maturity date. Suppliers access the website to view their receivables. If they wish, suppliers may select receivables to be paid in advance of the maturity date. Early payment requests are paid by third-party banks, directly to the supplier’s bank account, less a financing fee. In the case of a government-backed SCF program, financing rates would be extremely attractive as Big Three payables would be guaranteed by the US Treasury.
PrimeRevenue has forwarded information regarding its Supply Chain Finance approach to Congress, the Treasury and others.
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The program’s operation is based upon an underlying federal guarantee of Big Three payables to their direct suppliers. Unlike a loan, this guarantee would act as a ‘backstop’ to the Big Three’s payables, effectively honoring payment of those obligations in the event of a default. Private sector financial institutions would rely on the government guarantee to fund the early payment of receivables at rates highly favorable to the suppliers, providing a working capital improvement opportunity for both sides of the supply chain relationship.
“The US automotive industry has been deeply affected by the current turmoil in the credit markets,” said Joe Juliano, CEO of PrimeRevenue, “While not a panacea, Supply Chain Finance can be implemented quickly to support the liquidity needs of US auto companies and their suppliers, while at the same time unlocking significant bank funding, to help buy the time necessary to make these businesses successful again.”
James D. Robinson III, former Chairman and CEO of American Express Company, and General Partner, RRE Ventures is a board member of PrimeRevenue. In supporting the program, Mr. Robinson stated, “Supply Chain Finance provides a meaningful complement to solutions on the table today. Together with other government and industry initiatives, this approach directly can help the auto suppliers and the Big Three generate immediate working capital.”
A Supply Chain Finance (SCF) platform is a secure website that links payment information between companies, their suppliers, and financial institutions. Companies publish their payables information to the platform, well in advance of the payment maturity date. Suppliers access the website to view their receivables. If they wish, suppliers may select receivables to be paid in advance of the maturity date. Early payment requests are paid by third-party banks, directly to the supplier’s bank account, less a financing fee. In the case of a government-backed SCF program, financing rates would be extremely attractive as Big Three payables would be guaranteed by the US Treasury.
PrimeRevenue has forwarded information regarding its Supply Chain Finance approach to Congress, the Treasury and others.
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Friday, December 12, 2008
Statement by Whie House Press Secretary Dana Perino
It is disappointing that while appropriate and effective legislation to assist and restructure troubled automakers received majority support in both houses, Congress nevertheless failed to pass final legislation. The approach in that legislation provided an opportunity to use funds already appropriated for automakers, and presented the best chance to avoid a disorderly bankruptcy while ensuring taxpayer funds go only to firms whose stakeholders were prepared to make the difficult decisions to become viable, competitive firms in the future.
Under normal economic conditions we would prefer that markets determine the ultimate fate of private firms. However, given the current weakened state of the U.S. economy, we will consider other options if necessary - including use of the TARP program -- to prevent a collapse of troubled automakers. A precipitous collapse of this industry would have a severe impact on our economy, and it would be irresponsible to further weaken and destabilize our economy at this time.
While the federal government may need to step in to prevent an immediate failure, the auto companies, their labor unions, and all other stakeholders must be prepared to make the meaningful concessions necessary to become viable.
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Under normal economic conditions we would prefer that markets determine the ultimate fate of private firms. However, given the current weakened state of the U.S. economy, we will consider other options if necessary - including use of the TARP program -- to prevent a collapse of troubled automakers. A precipitous collapse of this industry would have a severe impact on our economy, and it would be irresponsible to further weaken and destabilize our economy at this time.
While the federal government may need to step in to prevent an immediate failure, the auto companies, their labor unions, and all other stakeholders must be prepared to make the meaningful concessions necessary to become viable.
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David Shafer to Run for Lt. Governor
Received this article in a round-about way (via Facebook) and have not been able to locate it on the Internet. There are some other blogs noting that Shafer is hinting, that there are rumblings, but this is the first news article we've found. We've included a link to the Facebook page with the full article posted:
Senator David Shafer launches campaign for Lt. Governor
SebPublication: Chattanooga Times Free Press; Date:Dec 12, 2008; Section: North Georgia; Page Number:27
Lieutenant governor hopeful launches campaign in Catoosa By Kevin Cummings kcummings@timesfreepress.com
Online: Hear David Shafer and Martin Scott talk about the campaign. Comment on this story.
RINGGOLD, Ga. — Past election evidence overwhelmingly shows that Northwest Georgia is GOP country, so it makes sense to kick off a Republican campaign here. Trying to draw on the good omens of other candidates who have campaigned at Alvin Worley’s Outback and won — including Gov. Sonny Perdue — Republican state Sen. David Shafer, R-Duluth, a candidate for lieutenant governor, held his first official campaign event Thursday at the rustic meeting venue.
http://www.facebook.com/home.php?ref=home#/note.php?note_id=40369197338&ref=nf
Senator David Shafer launches campaign for Lt. Governor
SebPublication: Chattanooga Times Free Press; Date:Dec 12, 2008; Section: North Georgia; Page Number:27
Lieutenant governor hopeful launches campaign in Catoosa By Kevin Cummings kcummings@timesfreepress.com
Online: Hear David Shafer and Martin Scott talk about the campaign. Comment on this story.
RINGGOLD, Ga. — Past election evidence overwhelmingly shows that Northwest Georgia is GOP country, so it makes sense to kick off a Republican campaign here. Trying to draw on the good omens of other candidates who have campaigned at Alvin Worley’s Outback and won — including Gov. Sonny Perdue — Republican state Sen. David Shafer, R-Duluth, a candidate for lieutenant governor, held his first official campaign event Thursday at the rustic meeting venue.
http://www.facebook.com/home.php?ref=home#/note.php?note_id=40369197338&ref=nf
Thursday, December 11, 2008
Barr Condemns Newest Bailout
Former Congressman Bob Barr, the Libertarian Party's 2008 presidential nominee, issued a statement condemning the proposed $15-billion bailout of the auto industry apparently nearing approval in the Congress. Barr said “the Faustian bargain” the Big 3 automakers reached with lawmakers “compounds the problem” of the massive bailouts backed by Congress and the Bush Administration, and apparently is structured so as to give the federal government a degree of involvement and control of GM, Ford, and Chrysler that the companies “will live to regret.”
Barr went on to say that while the auto industry has a better case for protection than insurance giant AIG, which already has secured some $85 billion in taxpayer-funded bailout money, the contemplated auto bailout will solve none of the underlying problems facing the industry or the economy. AIG, for example, Barr noted, was the “master of its own demise,” and directly contributed to creating the current economic crisis; the auto companies did not. Other entities also responsible for creating the mortgage crisis, Fannie Mae and Freddie Mac, were also given massive bailouts earlier in the year. It is difficult, given these precedents, to deny others the benefit already granted these other entities, but, Barr noted, we should not put even more taxpayer dollars at risk.
Bob Barr represented the 7th District of Georgia in the U. S. House of Representatives from 1995 to 2003 and was the 2008 Libertarian Party Nominee for President.
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Barr went on to say that while the auto industry has a better case for protection than insurance giant AIG, which already has secured some $85 billion in taxpayer-funded bailout money, the contemplated auto bailout will solve none of the underlying problems facing the industry or the economy. AIG, for example, Barr noted, was the “master of its own demise,” and directly contributed to creating the current economic crisis; the auto companies did not. Other entities also responsible for creating the mortgage crisis, Fannie Mae and Freddie Mac, were also given massive bailouts earlier in the year. It is difficult, given these precedents, to deny others the benefit already granted these other entities, but, Barr noted, we should not put even more taxpayer dollars at risk.
Bob Barr represented the 7th District of Georgia in the U. S. House of Representatives from 1995 to 2003 and was the 2008 Libertarian Party Nominee for President.
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RNC Chairman Responds to President-Elect Obama's Comments Regarding Governor Blagojevich
/PRNewswire-USNewswire/ -- Republican National Committee (RNC) Chairman Robert M. "Mike" Duncan released the following statement today.
"President-elect Barack Obama continues to provide less than forthcoming answers to simple questions related to Governor Rod Blagojevich. While it is encouraging that the President-elect has stated his office will disclose contacts with the scandal-ridden governor, it remains disappointing that his actions are in response to political pressure. Americans expect the highest degree of transparency from their elected leaders, rather than promises of openness on the campaign trail."
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"President-elect Barack Obama continues to provide less than forthcoming answers to simple questions related to Governor Rod Blagojevich. While it is encouraging that the President-elect has stated his office will disclose contacts with the scandal-ridden governor, it remains disappointing that his actions are in response to political pressure. Americans expect the highest degree of transparency from their elected leaders, rather than promises of openness on the campaign trail."
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The American Federation for Medical Research Says Daschle Must Cure Clinical Research Crisis if Change Is To Take Hold in U.S. Health Care System
/PRNewswire-USNewswire/ -- The American Federation for Medical Research (AFMR) announces its full support of Former Senate Majority Leader Tom Daschle's appointment to the post of Health and Human Services secretary. Mr. Daschle will serve as President-elect Obama's top administration official to overhaul the nation's health care system.
As a result of its work since 1940, the AFMR believes firmly that improving clinical research in the U.S., which weakened significantly during the Bush administration, is a lynchpin to achieving sustainable change in the U.S. health care system. The AFMR pledges the full support of its human resources, medical expertise and scientific knowledge to Mr. Daschle and the Obama administration for the advancement of clinical research, including its leading U.S. physician members and Nobel laureates who have made significant contributions to modern medicine and patient care through clinical research.
"Medical science and the U.S. health care system cannot progress without clinical research," said Dr. Alan Buchman, president of the AFMR and a prominent physician in gastroenterology. "Yet our nation has neglected the advancement of clinical research -- that which involves patients directly -- which can prevent disease, lead to more effective disease treatments, medical breakthroughs for chronic diseases, and cut the astronomical costs and inefficiencies that plague our health care system. Mr. Daschle has the opportunity to fix this fundamental issue early on, which will have an enormous positive ripple effect on the rest of the health care system," said Buchman.
The U.S. clinical research crisis stems from two primary issues: 1) Federal budget cuts for the NIH, particularly in funds spent on clinical research and the education and training of future clinical investigators and physician-scientists, and 2) Lack of support for future physician-scientists, whose job it will be to bring modern medicine and quality patient care to future generations.
According to the Centers for Disease Control and Prevention, chronic diseases account for seven out of 10 deaths in the U.S. and for 75% of every health care dollar spent each year. Yet federal funding for clinical research has decreased in recent years, and funding that has been apportioned, has gone mainly to basic research rather than clinical research - the only kind of research that generates disease-specific breakthroughs and patient treatment alternatives.
The NIH budget for the current fiscal year, $29.2 billion, represents a $329 million increase over last year, but the actual growth for NIH programs is much less because $200 million of the increase was earmarked for the Department of State Global HIV/AIDS fund. When the $200 million is subtracted from the budget, the actual increase in NIH programs is reduced to just $133 million (0.5%) over last year. It is not yet known how the FY 2009 budget will be impacted, although the statement accompanying the signed bill from President Bush indicated his intention to submit an FY 2009 budget proposal that will "once again restrain spending."
One program impacted by the tightening of the NIH budget is the Clinical Translational Science Award program (CTSA) -- the NIH-supported clinical research program intended to speed the translation of scientific discovery to the treatment of patients. As a result of the cuts, the NIH is unable to fully fund the evolution and expansion of the CTSA program, which has become a critical training and research structure for junior investigators.
Another alarming issue is the growing scarcity of human resources in the clinical research field. The current generation of physician investigators is aging rapidly and there aren't enough investigators to replace them because support for new investigators entering the field has decreased significantly in recent years.
According to the NIH, the average age of physician scientists in 1980 was 39. By 2015, the average age is expected to be 52. If action is not taken now, the U.S. will face a critical shortage of qualified physician investigators within the next decade, creating a massive knowledge gap between aging physicians and the next generation of physicians.
"The cost of not advancing research and training future physician scientists is one that will be paid by the entire world. The United States is a global feeder pool of physician scientists," said Buchman. "A further breakdown in clinical research and failure to revitalize the physician-scientist workforce of the future will impact medical breakthroughs, treatments and critical training throughout the world. The pharmaceutical industry cannot be counted on to undertake clinical research alone, and from an economic standpoint, clinical research dollars are being focused away from the U.S. and concentrated on China and India."
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As a result of its work since 1940, the AFMR believes firmly that improving clinical research in the U.S., which weakened significantly during the Bush administration, is a lynchpin to achieving sustainable change in the U.S. health care system. The AFMR pledges the full support of its human resources, medical expertise and scientific knowledge to Mr. Daschle and the Obama administration for the advancement of clinical research, including its leading U.S. physician members and Nobel laureates who have made significant contributions to modern medicine and patient care through clinical research.
"Medical science and the U.S. health care system cannot progress without clinical research," said Dr. Alan Buchman, president of the AFMR and a prominent physician in gastroenterology. "Yet our nation has neglected the advancement of clinical research -- that which involves patients directly -- which can prevent disease, lead to more effective disease treatments, medical breakthroughs for chronic diseases, and cut the astronomical costs and inefficiencies that plague our health care system. Mr. Daschle has the opportunity to fix this fundamental issue early on, which will have an enormous positive ripple effect on the rest of the health care system," said Buchman.
The U.S. clinical research crisis stems from two primary issues: 1) Federal budget cuts for the NIH, particularly in funds spent on clinical research and the education and training of future clinical investigators and physician-scientists, and 2) Lack of support for future physician-scientists, whose job it will be to bring modern medicine and quality patient care to future generations.
According to the Centers for Disease Control and Prevention, chronic diseases account for seven out of 10 deaths in the U.S. and for 75% of every health care dollar spent each year. Yet federal funding for clinical research has decreased in recent years, and funding that has been apportioned, has gone mainly to basic research rather than clinical research - the only kind of research that generates disease-specific breakthroughs and patient treatment alternatives.
The NIH budget for the current fiscal year, $29.2 billion, represents a $329 million increase over last year, but the actual growth for NIH programs is much less because $200 million of the increase was earmarked for the Department of State Global HIV/AIDS fund. When the $200 million is subtracted from the budget, the actual increase in NIH programs is reduced to just $133 million (0.5%) over last year. It is not yet known how the FY 2009 budget will be impacted, although the statement accompanying the signed bill from President Bush indicated his intention to submit an FY 2009 budget proposal that will "once again restrain spending."
One program impacted by the tightening of the NIH budget is the Clinical Translational Science Award program (CTSA) -- the NIH-supported clinical research program intended to speed the translation of scientific discovery to the treatment of patients. As a result of the cuts, the NIH is unable to fully fund the evolution and expansion of the CTSA program, which has become a critical training and research structure for junior investigators.
Another alarming issue is the growing scarcity of human resources in the clinical research field. The current generation of physician investigators is aging rapidly and there aren't enough investigators to replace them because support for new investigators entering the field has decreased significantly in recent years.
According to the NIH, the average age of physician scientists in 1980 was 39. By 2015, the average age is expected to be 52. If action is not taken now, the U.S. will face a critical shortage of qualified physician investigators within the next decade, creating a massive knowledge gap between aging physicians and the next generation of physicians.
"The cost of not advancing research and training future physician scientists is one that will be paid by the entire world. The United States is a global feeder pool of physician scientists," said Buchman. "A further breakdown in clinical research and failure to revitalize the physician-scientist workforce of the future will impact medical breakthroughs, treatments and critical training throughout the world. The pharmaceutical industry cannot be counted on to undertake clinical research alone, and from an economic standpoint, clinical research dollars are being focused away from the U.S. and concentrated on China and India."
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