Over-reliance on strictly economic justifications has already begun to hurt the quality and range of education at every level of American life.

We will work with industrial or Dept. Of Defence sponsorship as long as we keep our principals of openness firm we're proud to work with the military, and they respect that in turn.

The thing that we at MIT must understand is the amount of real damage that is being done to us in the fine structure of how research funds are expended.

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.

Agency by agency, we frequently have lost a bit of ground, at least to inflation-but had it not been for the efforts we've made to educate people about the importance of science, technology and advanced education, those predictions very well might have come true.

Given the best of all possible worlds, I would make a few changes. I would place emphasis on increasing the amount of funding that goes into programs like Pell Grants, that purely and simply award funds to students who really cannot afford full tuition.

I would also certainly continue to keep loan repayment interest rates as low as possible. And I would spread the financial aid a little less thinly across all income brackets.