"History should be our guide. The United States led the world’s economies in the 20th century because we led the world in innovation. Today, the competition is keener; the challenge is tougher; and that is why innovation is more important than ever. It is the key to good, new jobs for the 21st century. That’s how we will ensure a high quality of life for this generation and future generations. With these investments, we’re planting the seeds of progress for our country, and good-paying, private-sector jobs for the American people."

EXECUTIVE SUMMARY

Since taking office, President Obama has taken historic steps to lay the foundation for the innovation economy of the future. The Obama Innovation Strategy builds on well over $100 billion of Recovery Act funds that support innovation, additional support for education, infrastructure and others in the Recovery Act and the President’s Budget, and novel regulatory and executive order initiatives. It seeks to harness the inherent ingenuity of the American people and a dynamic private sector to ensure that the next expansion is more solid, broad-based, and beneficial than previous ones. It focuses on critical areas where sensible, balanced government policies can lay the foundation for innovation that leads to quality jobs and shared prosperity. It has three parts:

1. Invest in the Building Blocks of American Innovation. We must first ensure that our economy is given all the necessary tools for successful innovation, from investments in research and development to the human, physical, and technological capital needed to perform that research and transfer those innovations.

•Restore American leadership in fundamental research. President Obama implemented the largest increase in basic R&D in history, which will lay the foundation for new discoveries and new technologies that will improve our lives and create the industries of the future.

If we make college education cheaper, more Americans will be able to go to college and receive higher degrees. This leads to modern lasting jobs in the current global system. Thus, Americans will have a higher standard of living buying more stuff and overall improving the country and society. Thus, further enabling a culture of expansion and the American Dream.

The government needs to frame policies that results in hirings. So far we have not seen any concrete efforts within the past 2 years.

Below are a few ideas...
1) Provide subsidies to businesses that employ within the next 1 year
2) Provide tax breaks or refunds and let consumers spend on goods they would like to spend
3) Develop policies that would reduce interest payments putting more money in consumers hand
4) Allow americans to defer tax payments over the next 5 years at a low interest rate

Basically policies that would promote consumption without taking on more debt.