R&D spending grew 1% in 2003

R&D in all fields grew just 1% last year to $284 billion, according to the National Science Foundation, a steep drop from its average annual growth of 5.8% between 1994 and 2000. Federal budgets have arguably shortchanged technology, given its contribution to the overall economy. Life sciences, for instance, received more than half of the estimated $53.4 billion in federal research funding handed out last year.