mr. speaker , the united states has the number one economy in the world .  for almost two centuries , we have been the envy of the world : a dynamic economy ; a hardworking , motivated workforce ; truly the land of opportunity where innovation has thrived .  the status is changing , though .  we are running a $ 670 billion annual trade deficit which is contributing to our federal budget deficit and slowed economy over the past few years .  this development is not a temporary blip on the radar screen .  it is the culmination of a generation of increased regulation , unsound tax policies , languishing emphasis on math and science education , unchecked health care costs , rampant lawsuit abuse , unfocused research and development funds and a weak trade policy enforcement .  in short , our government has made it difficult and undesirable to do business in the united states .  we have put roadblocks to keeping and creating jobs in america , and we have done this to ourselves .  if these current trends continue , our economy will continue to lag and we will no longer remain the most dynamic economy in the world .  meanwhile , china , india and other nations are preparing for the future .  they are educating their students in math , science and technology , and pumping out record numbers of engineers .  they are reducing tax rates and other economic barriers to entice investments in their nations .  they are pursuing aggressive trade policies to reduce america 's dominance in world trade .  without attention to these matters , the united states is headed towards a third-rate economy ; 5 , 10 , 20 years down the road , we will no longer be the world 's leader or even second place .  we will become a third-rate economy .  that is why we need to take this issue seriously .  last year , we began the competitiveness legislative agenda on the floor , and over a period of 8 weeks , we discussed and voted on issues related to keeping and creating keeping jobs in america .  later this summer , the jobs action team will again bring legislation to the floor to combat this problem .  we need to take a longer-term vision .  for this reason , i am initiating the house economic competitiveness caucus .  the caucus will carefully examine the issues facing our ability to compete economically over the coming years .  we will work to focus congressional efforts to removing the barriers to american economic competitiveness and develop economic goals for the future and find paths to get there .  i encourage my colleagues to join me in finding ways to guarantee a vibrant , internationally competitive american economy now , 5 , 10 , 15 and 20 years down the road .  our goal is to ensure high-quality and high-paying jobs for all americans today and in the future .  