US must invest heavily to stay No. 1 economy, says White House economist

WASHINGTON (REUTERS) – The United States must invest heavily in its workforce, infrastructure, research and development remain competitive and stay the world’s largest economy, Cecilia Rouse, chair of the White House Council of Economic Advisers said on Tuesday (April 6).

US investments in R&D had fallen by a third as a percentage of economic output since 1960, while spending on infrastructure had been halved over the last 50 years, Rouse told an online event hosted by the Washington Centre for Equitable Growth and Groundwork Collaborative.

She said the United States ranked “dead last” in spending on its workforce, compared to other advanced economies.

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