Despite the thrust on deficit reduction President Obama is keen on investment on research and technology. To forward his high-tech and education agenda he made quick tour of the West Coast. He toured a semiconductor plant at Oregon and before that dined with head honchos of the Silicon Valley.
While Republicans have asked for budget cuts, Obama has championed for more investment in education, high speed Internet, green technologies and other high tech concepts. He feels that investment on future cannot be sacrificed for anything. According to him, “If we want the next technological breakthrough that leads to the next Intel to happen here in the United States, not in China, not in Germany, then we have to invest in America’s research and technology, in the work of our scientists and engineers.”
A proof of Obama’s eagerness in this direction is the fact that his Democratic government now has extended research and development tax credit to tech firms. Intel and many tech companies benefit from this legislative move. Intel’s CEO Paul Otellini has reciprocated by announcing the setting up of a $5 billion manufacturing facility in Phoenix, a suburb of Chandler.
The highlight of this type effort is that on crucial matters Obama tries to rope in not only supporters but also those who disagree with him on other issues. Otellini of Intel funded Republican John McCain’s 2008 election campaign and has been a critic of many of Obama’s policies. But Obama managed to rope him in for his investment efforts in education and high technology agenda.