At such a difficult moment, there are those who say we cannot afford to invest in science, that support for research is somehow a luxury at moments defined by necessities. I fundamentally disagree. Science is more essential for our prosperity, our security, our health, our environment, and our quality of life than it has ever been before. (Applause.)
And if there was ever a day that reminded us of our shared stake in science and research, it's today. We are closely monitoring the emerging cases of swine flu in the United States. And this is obviously a cause for concern and requires a heightened state of alert. But it's not a cause for alarm. The Department of Health and Human Services has declared a public health emergency as a precautionary tool to ensure that we have the resources we need at our disposal to respond quickly and effectively.
And I'm getting regular updates on the situation from the responsible agencies. And the Department of Health and Human Services as well as the Centers for Disease Control will be offering regular updates to the American people. And Secretary Napolitano will be offering regular updates to the American people, as well, so that they know what steps are being taken and what steps they may need to take.
But one thing is clear -- our capacity to deal with a public health challenge of this sort rests heavily on the work of our scientific and medical community. And this is one more example of why we can't allow our nation to fall behind.
Unfortunately, that's exactly what's happened.
Federal funding in the physical sciences as a portion of our gross domestic product has fallen by nearly half over the past quarter century. Time and again we've allowed the research and experimentation tax credit, which helps businesses grow and innovate, to lapse.