Many forward-thinking countries have made innovation-led economic development a centerpiece of their national economic strategies during the past decade. While many nations have taken the innovation challenge to heart and put in place a host of policies to spur innovation, the United States has done little, consequently falling behind in innovation policies and risking falling behind in innovation performance as well. This article compares U.S. innovation policy to that of other leading industrialized countries across five topic areas: programs to establish civilian technology and innovation promotion agencies; services innovation initiatives; national levels of R&D funding; tax incentives for research and development; and policies regarding high-skill immigration.