Recorded in this document are hearings before the Committee on Science and Technology (U.S. House of Representatives). The central issues addressed in the hearings were whether the need for long-term steadiness in technology investment is holding its own against short-term budget expendiencies, and in particular, whether the budget stress is upsetting the government-university and government-industry relationships which had catapulted this country into postwar technological leadership. Following testimony by George A. Keyworth II (Director, Office of Science and Technology, Executive Office of the President) on President Reagan's science policy, additional testimony was provided by college presidents, scientists, and representatives of government and industry, addressing both general issues and those directly related to their specific areas. For example, impacts of budget cuts on science and technology programs, graduate study, and research facilities/equipment were among the issues addressed by the college presidents. Prepared statements by witnesses and a summary report (supplementing testimony of Frank Press, President, National Academy of Sciences) of a conference on research and development budget for 1982 and future years are included. (JN)