Looking ahead, I believe that the underlying importance of higher education, of science, of technology, of research and scholarship to our quality of life, to the strength of our economy, to our security in many dimensions will continue to be the most important message.

Of course, tax revenues have ended up being substantially higher than they were at the time these dire projections were made, and we are very close now to having a balanced budget. All that has been very helpful.

Nonetheless, the research budgets of the Department of Defense are under enormous stress-and they are extremely important because they support more than 40 percent of all federal funding for engineering schools across the country. So the threat was and is real.

Charles Vest Quotes