Thank you.
Ms. Nash, you raised the issue a couple of times in questions about balance, but it's balance along a number of dimensions. It's not a target where we'll know we have the balance right and we'll stay there; it is always a work in progress. It is a balanced approach to targeted versus non-targeted research. It is a balanced approach to focus on the public versus private research. It is a balance between fundamental research and applied research, with commercialization applications. As a focus for this committee, that is very appropriate and very important.
My members would feel I was remiss if I didn't say that a particular priority for us is the issue I raised in my opening remarks about the institutional costs of research. It is a matter of the balance among the different types of investments the federal government makes. It's probably the least understood and least visible issue, but from the perspective of the universities it's perhaps most important to address ensuring that the institutions have the ability to provide that environment in which researchers can thrive. It means in part that when the federal government funds research through the research granting agencies and otherwise, it covers the full institutional costs. I mentioned that a bit in my opening remarks.
Thank you.