Gingrich: No Balanced Budget Without More Research Spending
Gingrich endorsed research bonds for large expensive projects, which he said have the potential to generate huge savings if they work.
“It’s worth exploring. Issuing bonds to finance the research then pay out some fraction of the savings. This would have the benefit of taking important projects off budget and raising much larger sums of money than the federal government is likely to appropriate,” he said.
Gingrich also said he supports more federal research prizes.
“Taxpayers don’t pay a thing unless and until the goal is actually achieved and they never pay more than the prize amount. Second, you get lots of competing strategies for solving the problem when you have multiple groups working independently to get the prize,” he said, emphasizing the need to shift the government’s efforts in space around prizes to accelerate competition.
Warren praised Gingrich for working to double the NIH budget while he was speaker of the House.
“Despite the deep divides, why was it that members of both parties decided that NIH funding was so important in the late 1990s?” Warren asked.
“As Hillary Clinton has said on the campaign trail, her husband and I had a technique where we could fight all morning and negotiate all evening and I think it’s really important in the sense – not that you get to a nonpartisan perfect world, but you have to place the country above whatever your fights are,” Gingrich responded.