So Tech Chiefs Say U.S. Is Losing Its Competitive Edge. The problem, as they see it?

-- Some 7 percent of U.S. households have broadband access, compared with 30 percent in Korea, 20 percent in Japan and over 10 percent in France.

-- U.S. investment in research and development has stayed flat for the last three decades, while it has grown significantly in competitors such as Brazil, India, China and Israel.

-- Students in the United States are behind their counterparts in other countries in math and science, and some Asian countries are graduating five times as many engineers.

And their solution?

...increase basic research funding and make permanent a research and development tax credit; promote broadband development, in part by minimizing regulations; enact a U.S.-Central America-Dominican Republic free trade agreement; promote cybersecurity initiatives; and continue to take steps to reduce frivolous lawsuits.

TechNet leaders also pledged to continue their opposition to a proposed Financial Accounting Standards Board rule that would require companies to deduct the value of employee stock options from their profits. Requiring some big companies to expense the popular employee incentives could dramatically reduce their profits.