To be fair, Schmidt's larger point seemed to be about how bad the US has been doing and he used China as a counter example to illustrate that. If his counter ex

To be fair, Schmidt's larger point seemed to be about how bad the US has been doing and he used China as a counter example to illustrate that. If his counter example turns out to be exaggerated that doesn't change the fact that US r&d spending is lower than before Sputnik. (I have no idea whether his numbers are right.) Your point to not believe the hype is a very good one though.