Essentially Hockfield boils it down to two concomitant issues: a lack of political will at both the national and state level to fund research with no immediate application in sight and the lack of commitment by entrepreneurs to not only inventing here in America but making things here in America:
Don’t just create ideas, also make products here. Buying back technologies that we invented changed our surplus into deficit. We need to have a substantial fraction of technologies that are made in America.
Posted on the Intel blog, of all places.