SEEDS OF OPPORTUNITY:
An Assessment of the
Benefits, Safety, and Oversight of Plant Genomics and
Read the Full Report
Read his Relating Columns:
Seeds of Opportunity and
Food and Fear
The Most Remote Place on
In 2003, Nick Smith spent 3
days touring U.S. research facilities in Antarctica.
Read his Column talking about the experience
Read about how
schools used the diary of his trip to teach about Antarctica
When Will America
Detroit Free Press - Congressman Nick Smith, Retired - February 26,
I just returned from speaking at Oxford and
several other British Universities on American politics and the
economy. England, like the United States, has high
unemployment and huge government debt. Many I spoke to
believed that the current global economic mess is all our fault.
In a sense, they are right. As the world's leading economy,
our economic health affects everyone, especially trading partners
like England. We are its largest trading and investment
partners at $400 billion last year.
The students were most interested in my
opinion on how long it would take before America recovers
economically. Some White House economists are predicting that
we can fully recover from this recession in a year or two. As
I told the students, however, it will take ten years or more to
rebuild the economy - and then only if we can control our spending.
It's not just "the government" or even "the Democrats." All of
us, government and consumers alike, have been living on borrowed
money. Our national savings rate three years ago was a
negative number. One bit of recent good news is that consumers
have increased their average individual savings rate to over five
percent, which means less consumer spending in the short run but a
stronger overall economy in the long run. The Government needs
to do likewise.